Looking for motivation to buy your dream house? The Minneapolis Star Tribune offers one good reason…
Mortgage buyer Freddie Mac said Thursday that the average rate for a
30-year fixed loan was 4.36 percent this week, down from 4.42 percent last week.
That’s the lowest since Freddie Mac began tracking rates in 1971.The average rate on 15-year fixed loan dropped to 3.86 percent from
3.90 percent the previous week. That’s the lowest on records starting in
1991.
While the intention may be to spur home sales – it turns out that the lower interest rate hasn’t been turning homes, but refinancing is at its highest rate since May 2009.
Submitted by Minnesia home buyer agent, Mary Rugani
