According to Realtor.org (source USA Today), the average interest rate for a 30-year mortgage is at the lowest level since Freddie Mac began collecting its weekly survey in 1971. Rates have now declined to 4.71 percent the week of 12/4/09 from 4.78 percent the week prior. Fifteen year loan rates also fell from 4.29 percent to 4.27 percent, but homeowners should remember they face higher credit standards from lenders now.
During Thanksgiving week, the Mortgage Bankers Association's index of application demands rose 2.1 percent on a seasonally adjusted basis, which indicates consumers are considering taking advantage of mortgage rates at an historic low.
If you are considering buying a home, the buyer's market continues with many homes competitively priced. Around one-third of homes now selling are priced below what the owner paid. Interest rates are comparatively low for qualifying buyers. Take advantage of the extended tax credit and either buy your first home or move up to a nicer home at a competitive rate.
Call me if I can assist you with buying or selling a home. I am licensed in GA and TN and will assertively represent your interests in the desirable Greater Chattanooga real estate market
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Many people dream of owning their own houses, cars and properties. At times, a good mortgage finance loan plan can help in realizing their dreams.
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