Low interest rates - time to buy!

Posted on Thursday, December 4th, 2008 at 10:57am.

Nationally, mortgage interest rates are down substantially in the last week thanks to the Federal Reserve’s announcement on November 25th to buy up to $500 billion of securitized home loans. According to Bankrate.com, ”the average rate on the 30-year fixed was 6.33 percent Nov. 19.” Today, Bankrate.com is reporting that rate at 5.92%, the lowest it has been since February of this year. An online search for rates for an individual with good credit seeking a 30-year fixed for an Austin area home purchase shows rates close to 5.5%. With low interest rates and sellers who need to sell, it’s a great time to buy an Austin home. Call us at 512.600.1800 - we have REALTORS ready to help you find an Austin home today!

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