Interest Rates During The Decade Past – Freddie Mac
As mortgage rates have risen in the past few weeks on the heels of the Fed’s announcement regarding the scaling back of their bond repurchasing efforts, there has been concern about the impact on the gradually recovering housing market.
While it is true that rising rates will probably always have some negative impact on the market, it is important to look at rates in a historical perspective. Rates remain very attractive when compared to the past decade, with Freddie Mac reporting an average rate of 4.37% as of July 18.
Record low rates over the past year did not produce any dramatic recovery, and it has been predicted that even with rates expected to reach the 5% mark later this year, such an increase will not hamper the market’s recovery.
Wallingford PA Real Estate – Wallingford, PA 19086
