September 27th, 2012
As unbelievable as it may sound, mortgage rates have hit yet another record low!
Freddie Mac announced today that 30-year mortgages are hovering around 3.40 percent – a new record low rate. At this time last year, the 30-year rate was about 4.01 percent.
The dip in rates is the result of the Federal Reserve’s new stimulus, which is intended to spark the housing market.
Pending home sales are down a bit from July, but they’re still well above the number in August of 2011.
Call Acadia Lending to ask about buying or refinancing today!