Real Estate Mortgage Rates Hovering Near 6%
Northwest Home buyers should take notice of where interest rates are currently, there looking pretty good at the moment. Combine that with the fact that home buyers usually fair better with negotiations in a buyers market, now might be the perfect time to buy.
Long-term mortgage interest rates dropped to 6.06%, and the benchmark 10-year Treasury bond yield inched up to 4.58 percent. The 15-year fixed rate sank to 5.69 percent. The 1-year adjustable dipped to 5.7 percent. The 30-year Treasury bond yield held at 4.83 percent.Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks covering the United States. Points on these mortgage loans range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average went over 14,000 for the first time and finished the day at 14,087.55, gaining 191.92 points on the day. The Nasdaq was up 39.49 points for the day to finish at 2741.
Home buyers in the Northwest here might want to lock in a long term rate and consider this a buying oportunity in the market place. I know in fact there are a lot of home buyers sitting on the fence for some kind of good news. I really think this is a perfect time to purchase a home with home prices dipping and lock in a great rate to boot. For all your Bellingham real estate needs visit Bellingham WA Homes.