Home Mortgage News

How Do Historic Low Interest Rates Sound?

Interest Rates Fall

Interest Rates Continue to Fall as Buyers Flock to the Improving Real Estate Market

In case you missed it, the Federal Reserve Board announced last week that they would be infusing $40,000,000,000 (billion) more into mortgage backed securities on a MONTHLY basis. The immediate effect on rates was dramatic and there is potential for more rate declines (believe it or not) once the additional infusions begin to take place.

Here is what rates look like at the moment:

30 Year Fixed FHA and Conventional = 3.375% – no points
5/1 ARM = 2.75% No Points

30 Year Fixed = 3.875% with a .5% credit (on a 700,000 loan that’s $3,500)
5/1 ARM = 2.875%

In case there was any doubt, these are all new historic lows. I have my seat belt, do you?

Contact your favorite lender and see what they can do for you. Call us to discuss your real estate needs. We are happy to point you in the right direction.

 Current Homes for Sale in Brea

To See Homes in Other Price Ranges: Search HERE

To See Homes For Sale in Other Areas: Search HERE

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By Diego Loya

Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.

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