Tallahassee Real Estate, Blog by Lisa Carey & Lesa Hart

Interest Rates are Down - Great Time to Buy a Home

September 9th, 2011 3:22 PM by Lisa Carey

The average rate for the 30-year fixed mortgage fell to 4.12 percent, down from 4.22 percent, Freddie Mac said Thursday. It’s the lowest level on records dating back to 1971. Freddie Mac said the last time rates were cheaper was 1951, when most long-term home loans lasted just 20 or 25 years.

The average rate on a 15-year fixed mortgage, a popular refinancing option, fell to 3.33 percent from 3.39 percent. That’s the lowest on records dating to 1991 and likely the lowest ever, according to economists.
Posted in:General
Posted by Lisa Carey on September 9th, 2011 3:22 PM

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