Interest rates dip to new RECORD LOW this week! Here's what it means to YOU.

By
Real Estate Agent with Keller Williams Realty Coeur d'Alene AB37665

Janna Rankin Scharf, PMN, SFR, GRI, CLHMS - Coeur d'Alene Idaho Real Estate

If that headline looks familiar it's because I am reblogging my post form LAST week after learning that rates dipped again this week (just a smidge) to RECORD LOWS for a THIRD record setting week in a row.  What I wrote last week:

Both the 30 and 15 year mortgage interest rated dipped to record lows this week.  They dipped just a smidgeon (yes, that's a REAL word!) but none the less they set new all-time record lows, again.

It's the perfect storm.  Home values are at record lows, interest rates are at record lows.

The 30-year fixed averaged 3.84% this week, down from last week's 3.88%.  Last year at this time the rate was almost a full point higher at 4.71%.

The average rate for a 15-year fixed rate mortgage is an INSANE 3.07%, down from 4.71% last year. 

What these record low interest rates mean for you
as a buyer is AFFORDABILITY that has never been seen in modern history! 

Today, May 5, 2012, you can buy more house for your dollar, adjusted for inflation, than any buyer has EVER been able to do before! 

Homes are more affordable for you today than they were for your grandparents back in the olden days!Homes are more affordable than your grandparents home 

If you are sitting on the fence waiting for home prices to fall lower, you are making a big mistake.  Once interest rates rise just a little bit, it will MORE than offset any further reduction in home values we may see this year.

Click here to read the entire Realty Times article about this week's interest rates.

Record Low Interest Rates

Posted by

Janna SignJanna Rankin Scharf  provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.jannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.

No matter how grand or modest your real estate dreams may be, you can turn to me in confidence.  Give me a call today and let me know what I can do to be of service to you!

Janna Rankin Scharf AB, GRI, CLHMS, PMN, SFR  208.651.9700

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