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Story Archives: Good news: Mortgage rates at all-time low
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|Good news: Mortgage rates at all-time low|
I want to begin by sharing some news that just 10 years ago none of us would have believed possible: This week the new rate on a 30-year and a 15-year mortgage reached an all-time low. The new rate on a 30-year fixed rate mortgage is 3.67 percent and for the first time ever, a 15-year mortgage broke under the 3 percent barrier at 2.94 percent.
That is great news for home buyers and sellers. The only bad news in this is it shows the extinct to which the federal government must push down interest rates to stimulate a stagnant real estate market that exists in many parts of the country.
In other news, a Gallup Poll study came out this week showing the public perception of professional integrity for a number of professions.
The poll ranked the professions from very high to very low. As in previous polls, the highest ranked professions were doctors and nurses. Consumer's opinion of the integrity of real estate professionals continues to improve in the view of the public with 20 percent ranking them with high or very high integrity.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at firstname.lastname@example.org.