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Mortgage Rates are Falling! Now Is The Time To Buy....

Posted By steve smith @ Feb 29th 2016 10:37am In: Charleston Housing Market

Just a few months ago the Federal Reserve raised rates and all the "experts" were predicting that home mortgage rates would rise and temporarily dampen the real estate market.  Since then, we have seen a market correction, issues in China and oil prices fall to new lows.

 

The attached Wall Street Journal article reports that average 30 year mortgage rates have fallen from 4.01% to 3.62% and there is no reason to think that rates will go up anytime soon.  In fact, rates may go down.  First time homebuyers have been jumping into the market and home inventory levels in the Charleston Metro Market are at a low of 3.4 months supply.  Continue reading ........



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