Thinking of Buying? Low Mortgage Rates May Motivate You

Spring buying season is underway and it is wonderful to see that mortgage rates have declined in the last couple of weeks - a definite benefit to the potential homebuyer. According to The Washington Post, Freddie Mac reported that a 15-year-fixed-rate average fell to 3.38% and adjustable mortgage rates fell as well. In addition, refinances comprised only 51% of applications, the lowest numbers we've seen since July 2009. So if you're thinking of purchasing, take advantage of these favorable interest rates while they last!