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2012 Home Interest Rates In The Phoenix Area Starting Out At All Time Lows

Jan 06

filed under: 2nd Home Buyers, Buying A Home, Market Conditions, Real Estate

By now you should be hearing all the positive buzz about the housing market. Inventory is low, sales are trending higher for the past 3-4 months consecutively, builders are starting to build, prices are expected to start inching up (finally) . . . and interest rates are at all time lows.

For the week ending January 5th, 2012 the GSE reports that a 30-year fixed mortgage averaged 3.91% (0.8 point). This is down from 3.95 percent the previous week.  Last year at this time the rate was 4.77 percent.

Even better is the 15-year fixed rate which averaged 3.23 percent (0.8 point), down from 3.24 percent from the week prior. A year ago the average 15-year rate was 4.13 percent.

These mortgage rates are amazing and you may never see them this low again in your lifetime or mine for that matter. If you are contemplating a real estate purchase, and have the wherewithal to do so,  you may want to think long and hard about getting off that fence before this opportunity passes you by. 2012 is going to be a very active real estate year, contact me if I can be of help for any of your real estate needs, I’d love to get you started with sending you some great listings. I also have some great mortgage broker referrals I can pass along to you so you are sure to get these great rates!

 

Written by TJ Harris