U.S. mortgage rates fall - Rate on 30-year fixed’s at lowest in over two years: Freddie Mac

Reading a recent article on www.MARKETWATCH.com, what we have all been talking about is the truth.  With all the media hype on the gloom and doom of todays Real Estate Market, or The Mortgage Crisis, today marks another positive look into the future for Real Estate Investors.  While the National Association of Realtors is showing a slowdown in Pending home sales, the mortgage industry is reflecting with a new incentive to home buyers, with the lowest interest rate for a 30 year fixed in over two years.  Freddie Mac.

“Because average mortgage rates have come down more than a quarter of a percentage point in the past two weeks, there has been a pickup in refinance activity as borrowers take advantage of the lower rates,” Nothaft said.

“For the first week of 2008, the Mortgage Bankers Association reported an increase in the refinance share of mortgage applications and the pace of overall applications, both at the highest levels in four weeks.”

article credit - MarketWatch

In addition, the Mortgage applications rose 32.2% last week

I invite everyone to goto our forum at WWW.INVESTORSCHOICEINDY.COM/FORUM to discuss their thoughts on this and other aspects of the Real Estate Marking in Indianapolis and other parts of the United States

-C

Posted by Clayton January 2008

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