Mortgage rates have been at historical lows and this week they hit a new low. A 30 year fixed rate mortgage was averaging 4.85% by Thursday March 26, exactly 1% down from a year ago. For anyone interested in buying real estate this is great news. Money is cheaper to borrow than it has been in over 30 years. The reason for the drop is explained as an after-effect of the Federal Reserve's announcement to buy into the Treasury. The drop in mortgage rates appears to be getting the effect the government was hoping for. According to the National Association of Realtors (NAR) "potential homebuyers are taking notice of these historically low mortgage rates. Both new and existing home sales rose 5 percent in February. First-time homebuyers accounted for half of all existing home sales." The low mortgage rates just might be getting people off of the sidelines and into real estate.
If you are interested in buying real estate in Baton Rouge contact Glenda Daughety and her Team today, (225) 205-2672. Glenda Daughety and her Team have the knowledge you need to succeed when it comes to Baton Rouge real estate.
For more Real Estate Information visit my blog- blog.glendadaughety.com!
For a complimentary search of all available real estate in Baton Rouge go to www.glendadaughety.com for access to the Baton Rouge MLS. Call Glenda Daughety today, (225) 205-2672, for the best in Baton Rouge Real Estate knowledge and service!
Glenda Daughety & Team have a proven reputation for excellence in the Baton Rouge area. The Team has the knowledge and experience to provide our clients with exceptional value and service.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
