Fix Mortgage Rates fall again!
Author: Jim Murphy
Written On: Sat, 10 Oct 2009
According to Bloomberg news and the Bergen Record, mortgage rates for 30 year fixed home loans fell for the second consecutive week. Borrowing costs are at near record lows. The average 30 year rate dropped to 4.87 percent. It was at 4.94 the week of Sept. 27, 2009. A fifteen year rate is now at 4.33 percent. Because of these low rates, home-loan applications rose to the highest level since May 2009. Low rates, falling home prices and the $8,000 government tax credit are increasing the demand for housing. The National Association of Realtors reported on Oct. 1st that the index of pending home sales jumped 6.4% in August resulting in it's seventh consecutive gain.
Now is the time to buy. Get in on some of the great prices and interest rates before competition increases and before the $8,000 tax credit expires. It is set to expire on November 30, 2009. Abbott and Caserta Realtors can help you with all of your real estate needs. Send us an e-mail at info@njhouse.com and someone will get back to you right away. Visit our website at www.njhouse.com. We'll be glad to make your dream of a new home come true!
