Mortgage interest rates have just hit another new low. Mortgage rates declined for the third consecutive week. The 30-year fixed averaged just above its record low while the 15-year fixed averaged a new all-time record low of 3.11% surpassing its previous low of 3.13% in March 2012.
- 30 year fixed rate mortgages averaged 3.88% with an average 0.7 point for the week ending April 12, 2012. Last year at this time, the 30-year FRM averaged 4.91 percent.
- 15 year fixed rate mortgages averaged 3.11% this week with an average 0.7 point. This is down from last week when it was 3.21%. A year ago at this time, the 15-year fixed-rate mortgage averaged 4.13 percent.
It is amazing how low interest rates have fallen. The feds have stated that they plan to keep interest rates low to help stimulate the real estate market. This is a great opportunity for anyone who is able to qualify for a mortgage. If you are looking for a home in Scottsdale, call me to set up a personalized tour. I would be happy to show you any Scottsdale condos or homes for sale.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260