Great news if you are looking to buy or refinance a home. We didn’t think that it would happen, but it has. Mortgage interest rates have dropped again, and are at new all time lows. These incredibly low interest rates are making housing affordable even better, and are actually stimulating refinance activity, something that hasn’t happened in a while. Perhaps these low interest rates will do something to stimulate the Utah Housing market. July was a pretty dismal month for home sales.
Thursday, August 11th, 2011, 10:09 amMortgage interest rates plummeted to new lows this week as the economy felt the stings of European debt concerns and investors rushed to U.S. Treasurys, a scenario that pushed long-term yields lower.The 30-year, fixed-rate mortgage fell to 4.32%, its lowest point this year. That’s down from 4.39% last week and 4.44% a year earlier, Freddie Mac said in its primary mortgage market survey. The 15-year, FRM decreased to 3.5% from 3.54% a week earlier and 3.92% last year. In addition, the five-year, Treasury-indexed hybrid, adjustable-rate mortgage hit 3.13%, down from 3.18% last week and 3.56% a year ago.
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