Money from Heaven!
American Housing Builders, Inc. has been building affordable single family homes in the Tampa Bay and St Petersburg area for many years and with interest rates having fallen to their lowest level in almost forty years, it is like having money “falling from heaven” for New Home buyers. Because we are always trying to stay up on the most current economic news and trends, we noted in an article posted on September 3, 2010, at FloridaRealtors.org, that mortgage rates fell to their lowest level in decades for the tenth time in 11 weeks.
The article then goes on to say that the average rate for a 30-year fixed loan is now at 4.32 percent, which is the lowest it has been since 1971. And even lower than that is a 15-year fixed rate mortgage that is now at 3.83 percent, which is the lowest level on record, a five year adjustable-rate mortgages that is at all time low of 3.54 percent, and a one-year adjustable mortgage that is now averaging at 3.50 percent. These are historically low rates and for New Home buyers who qualify, the money is there for the taking.
Click here to read entire article at FloridaRealtor.org.
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- Mortgage rates hit decades-low of 4.32 percent (sfgate.com)
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