Skip to comments.Mortgage rates drop below 4 percent for first time ever
Posted on 10/06/2011 10:57:40 AM PDT by ilovesarah2012
The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time ever, to 3.94 percent.
For those who can qualify, it's an extraordinary opportunity to buy or refinance. And mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates.
On Thursday, Freddie Mac said the average rate on a 30-year fixed mortgage dropped from 4.01 percent last week, the previous low. The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26 percent, also a record.
(Excerpt) Read more at msnbc.msn.com ...
You can not push a rope.
Until the foreclosures are completed
and available for resale,
real estate is toast
Whatever happened to that Shadow Inventory of some 4.7 million homes.
I thought they were suppose to show up by October 2011.
I haven’t seen them.