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Wow! Interest rates are LOW!! Over the past week, rates have dropped a percentage, averaging between 3.25%-3.50%.
The rate on a 30-year fixed-rate mortgages in Freddie Mac’s survey averaged 3.97% in the week ending October 16, and have since continued to drop. That’s the biggest one-week drop since late October 2013. The average interest rate has been over 4% since June 2013, and in September, it averaged 4.16%.
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Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or firstname.lastname@example.org. You can also find Alyssa on Facebook or on the web at www.lizmoore.com/alyssagodwin.