It is a great time to buy a home in Nashville, TN while mortgage loan interest rates are very low!
Freddie Mac’s Primary Mortgage Market Survey showed that the 30-year fixed-rate mortgage (FRM) averaged 5.47 percent, down from the prior week when it averaged 5.53 percent and from the prior month with November ending with an average of 5.97 percent. At 5.47 percent the 30-year FRM is at its lowest point for all of 2008!
One-year Treasury-indexed ARMs averaged 5.09 percent last week, down from the previous month when it averaged 5.18 percent.
“After Federal Reserve actions to increase liquidity in the mortgage market, interest rates for fixed-rate mortgages (FRMs) took a dive,” said Frank Nothaft, Freddie Mac vice president and chief economist. “This week’s decline was the largest since the week of November 27th, 1981, and 30-year FRM rates are now almost a full percentage point lower since the last week in October.”
[SOURCE: Freddie Mac]
Click here for more Nashville TN mortgage information.
Prequalify for your Nashville TN mortage online here. Quick and easy!
Have mortgage questions? I can help…. click here to contact me directly.
This information was brought to you by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee. Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help. To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.
One Trackback
[...] Low prices and low interest rates. 2009 could be the time for reluctant homebuyers to act, as this is perhaps the last year of the best home buying opportunity in recorded economic history. [...]