According to Freddie Mac, average mortgage rates on a thirty year fixed rate loan has dropped to 4.69% 1971, was the first year average mortgage rates were tracked by Freddie Mac. There has never been a lower rate on record. The last record was in December 2009, set at 4.71%. First time home buyers who missed the tax credit of $8,000 should consider the fact that the savings from locking in such a low rate can save tens of thousands of dollars over the life of the loan:
Loan Amount $100,000
Rate: 4.69%
Payment (Principal and Interest): $518.04
Loan Amount $100,000
Rate: 6.75%
Payment (Principal and Interest): $648.60
The savings over a 30 year loan can amount to nearly half the value of the home! Florida WestShore Realty can help any buyer in Lee County, Florida. We will expertly guide you through the Home or Condo buying process. If you are considering taking advantage of low Lee County Real Estate prices and low interest rates, give us a chance to work for you. We can recommend reputable lenders (that we work closely with) to assure a smooth purchasing process. From the First Time Home Buyer to the Savvy Investor, we will make the entire process relaxed and simple. Second Home Buyers should know rates are extremely attractive for them, too! Contact Florida WestShore Realty by email or phone (239) 415-6500, and let's get started!
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