Sep 08
Well, as I mention this morning it appears as though the 30 year fixed interest rate has been dropping all day. On my website at www.carolina-mountain.com there is an interest rate ticker on the side menus that show a real time reflection of the national average on varying interest rates. As I worked on the website today I kept noticing their rates declining little by little. This morning the interest rates were in the low six’s, as of this post they are now listed at 5.92. Maybe, the seizure of Fannie Mae and Freddie Mac by the fed on Sunday will help suit are troubled real estate markets.
Brian
One Response to “Watching the Interest Rates”
Leave a Reply
You must be logged in to post a comment.
September 12th, 2008 at 8:19 am
As I said in this post concerning interest rates falling, they are falling!!! As of this morning the national average on a 30 year fixed rate is now 5.77 percent. What does them mean for he Asheville, NC real estate market? I think in the short term it might push some of those buyers who were on the fence to get in the game, because rates like this are not going to last long. However, it is still going to be VERY challenging to get buyers qualified for loans, because while interests rates are going down the criteria used for qualifying borrowers is still very strict right now. So, the long term effect of the Fed’s take over of Fannie and Freddie on real estate markets is still a little cloudy.
Brian