The good news regarding the record low interest rates continues. Federal mortgage backer Freddie Mac recently released new data detailing the mortgage rates for the week ending July 19. As rates continue to decline buyers are reentering the real estate market and are searching for homes for sale in Denver.
- The rate for a 30-year fixed rate mortgage is currently 3.53% which is a decline from the previous week’s rate of 3.46%. This is also a decrease from the same week a year ago when the rate was 4.52%.
- 15-year conventional mortgages currently boast a record low 2.83%. This low rate makes a 15 year conventional mortgage product attractive to homeowners hoping to refinance and pay off their home loans quicker.
- The rates for both five year and one year adjustable rate mortgages are at 2.69%. This percentage is a decline for both mortgages from the same week a year ago.
As the real estate market continues to recover prospective buyers will need to decide when to enter the market. These record low mortgage interest rates indicate that there may be no better time than right now!
Give Preferred Properties a call today to find out more about homes for sale in Denver.
Image via: stock.xchng