July 13, 2024

real estate news
real estate news

Home Mortgage Rates 

There is some good real estate news out there, you just have to look hard to find it. Freddie Mac, that used to be quasi-government entity, that’s now 100% government owned, and loaded with what many believe are trillions in worthless mortgages, recently released a report showing that home mortgage interest rates have been steadily declining.

The 30-year fixed home mortgage interest rate was averaging 4.32 percent marking a new low for 2011, and the 15-year fixed, 5-year ARM, and 1-year ARM averaging new all-time record lows this week.

Perhaps the main reason for these low rates are the debt turmoils going on in the European markets, combined with our own falling stock market, have caused many investors to shift funds into what they perceive as a safe haven in U.S. Treasury securities. This flow of funds into US treasuries is what’s causing, and keeping home mortgage rates low.