30 Year Mortgage Rates In The Triangle Area Continue To Fall To Record Lows

Mortgage rates in the Triangle area have been down for some time now, but it appears that they are continuing to trend downward. Across the nation the average rate on the 30-year fixed mortgage dropped to 3.91 percent last week according to Freddie Mac. This rate matched the historical low number we saw a few weeks ago. Those looking for a 15-year fixed rate loan will be happy to know rates have dropped to 3.23 percent - down slightly from 3.24 percent the week prior. The number is up slightly from a record low we saw a few weeks ago of 3.21 percent. The average rate listed does not include any extra fees or points.

Mortgage rates have historically followed the yield on the 10-year Treasury note, which has fell 2 percent last week. Many economists are predicting that the Treasury note will continue to fall even lower in the future if the Fed chooses to launch another round of bond purchases. Many economists are predicting that the Fed will go ahead with another round of bond purchases in the near future.

Decreased mortgage rates are a wonderful thing if you are looking to buy a new home in the community of Glen Laurel, or to refinance your current Glen Laurel home. Low mortgage rates across the country have done little to help the housing market at this time. Interest rates hovered around 8 percent for the last eight weeks in 2011, and many who are eligible to refinance their homes have done so.

Take advantage of these low interest rates and buy a new home in Glen Laurel. Contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works, and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answers and would love to sit down for a confidential review of your options.