Mortgage Rates Fall

Hello to all,

For those on the fence about the rise in mortgage rates, I offer a ray of sunshine!  I have written in previous postings that the rates are still very low historically.  In fact, the average rate for the last 20 years is a whopping 6.3%!  With the news that the Federal Reserve will continue it’s quantitative easing (Bond buying), rates dropped from 4.75 to around 4.5 nationally last week.  This is welcome news to many buyers, sellers, and this Realtor.  Although the rates have stabilized for the moment, prices in Austin continue to rise.  787 Realty invites you to read the Austin Board of Realtors MLS market stats for the month of August.  Austin has not slowed down and has doubled the sales volume in 2013 for August from August 2010.  Enjoy this article from Bloomberg News that expands on the mortgage rate topic.

http://www.bloomberg.com/news/2013-09-19/mortgage-rates-fall-as-u-s-homebuyers-get-fed-reprieve.html