The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.48%, down from 5.58% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com®. Meanwhile, rates for 15-year fixed mortgages fell to 4.87% from 5.01%, and 5-1 adjustable rate mortgages also fell to 4.65%, down from 4.73 the week prior.
On Monday, rates for 30-year fixed purchase mortgages dropped further, with the average rate on Zillow Mortgage Marketplace at 5.34%. Source: RISMedia.com
Historical low rates on mortgages, tax credit for first time buyers, and home prices that have not been around since before 2003. Is there a better time to buy in Naples Florida?
