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Freddie Mac: Doubtful Rates Will Return to Recent Lows

Saturday, March 29, 2014   /   by Teresa Dipeso

Freddie Mac: Doubtful Rates Will Return to Recent Lows

"One thing seems certain: we aren't likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012."


- Freddie Mac, March 24, 2014


 


There are those that hope that 30-year mortgage interest rates will head back under 4%.Obviously, for any prospective home purchaser that would be great news. However, there is probably a greater chance that interest rates will return to the greater than 6% rate of the last decade before they would return to the less than 3.5% rate of 2012. Jersey Shore Home Mortgage


 


Freddie Mac, in one of four original posts on their new blog, explained that current rates are still extremely low compared to historic averages:


"The all-time record low – since Freddie Mac began tracking mortgage rates in 1971 – was 3.31% in November 2012. Conversely, the all-time record high occurred in October of 1981, hitting 18.63%. That's more than four times higher than today's average 30-year fixed rate of 4.32% as of March 20...rates hovering around 4.5% may be high relative to last year, but something to celebrate compared to almost any year since 1971."


Jersey Shore Home Mortgage


If you are thinking of buying a Jersey Shore home, waiting for a dramatic decrease in mortgage rates might not make sense. Call Jersey Shore Realty Group and talk to one of our preferred lenders today!

Teresa M DiPeso & The DiPeso Group Jersey Shore Real Estate Experts
Teresa M. DiPeso
Long & Foster
Avalon/Stone Harbor/Cape May/Sea Isle/Wildwoods, NJ 08202
609-780-1434

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County Multiple Listing Service. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the South Jersey Shore Regional MLS. Real estate listings held by brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
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