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The Economy And Interest Rates
By Norman Brown | June 15, 2010
The average mortgage rate is at or near an all time low. Freddie Mac, The mortgage financing entity says for
a 30 year fixed rate mortgage, the rate is below five percent (5%). So, it’s still very affordable for most buyers.
Existing home sales have increased in the last three months to 8.3% in February, 7.1% in March and 6% in April according to the National Association of Realtors (NAR).
With the increase economic activities in the housing sector and the steady growth in jobs, it will not be long before rates will start to move higher.
So while the economy continues to improve, now is the time for the fenced sitters to get a great deal on interest rates and buying a home or condo.
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