Are you considering buying a home in Nashville, but aren’t sure if now is the time? Perhaps our mortgage rate update can help. As mortgage rates continue to rebel against predictions for an increase, the US mortgage rate is staying consistently low – making now a great time to buy!
30-year mortgage rates averaged 3.66% last week, marking this the eleventh straight week of sub-4 percent rates, as reported by Freddie Mac’s weekly mortgage rate survey of over one hundred banks. When it comes to the 15-year fixed rate mortgage rate, it also averaged low at 2.98%.
What about refinance? We’ve got good news here as well! Even if you’ve refinanced in the past or recently bought a home, homeowners should consider obtaining a rate quote today. As the rate is under 4%, it’s a great time to look into potential refinance savings.
It is also important to note that Freddie Mac’s weekly mortgage interest rate survey applies only to conforming loans and conventional mortgage rates – not that of FHA mortgage rates.
In looking back, mortgage rates in January held below the 4 percent figure as well, with the month starting at 3.87% for 30-year mortgage rates, and ending with 3.66%. The market in Nashville is thriving, and the rates are low.
If you’re interested in a home in Williamson or Davidson County, give us a call or drop us a line. We’d love to help you find your forever home!