The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week. Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points. While this decline is not large, it provides modest relief to borrowers who are purchasing in a market with strong home appreciation and scant inventory. Looking back 10 years rates are still hovering near all time lows.
It’s a great time to leverage your buying power to purchase a new home. Not moving anytime soon? Check your current loan rate as it is still a great time to refinance.
Do you have other real estate questions? Please contact me at your earliest convenience. I’d be glad to assist you or someone you know!
Sal Soriano, REALTOR
972.281.7500
