Nashville Business Journal had a story this morning about mortgage interest rates continuing to fall. The 15 year fixed average is barely higher than average annual inflation. It’s crazy. If you are in the market for a home, now is the time. It doesn’t get any better for buyers than this.
Long-term mortgage rates fell to new lows this week, after the Federal Reserve’s announcement to step back into the Treasuries market. A 30-year fixed-rate mortgage averaged 4.17 percent in the week ending Nov. 11, down from 4.24 percent last week. A 15-year fix averaged 3.57 percent, down from 3.63 percent last week. Both are the lowest rates since Freddie Mac (OTC BB: FMCC) began keeping track.