It's time to check out interest rates, as I haven't reported on them recently. Historically, interest rates go up in the spring, but we haven't seen much movement this spring which is good news for Vermont home buyers.
Freddie Mac's weekly Primary Market Mortgage Survey reports a slight increase in rates this past week due to economic growth outside of the housing market, with a healthy consumer sector and improving business spending.
Interest rates this past week on a 30-year fixed-rate mortgage averaged 6.42 percent compared to the previous week's rate of 6.37 percent. This time last year, a 30-year fixed-rate mortgage averaged 6.67 percent.
Are you shopping for a mortgage for your Vermont home? This can be a daunting process, but I am glad to refer you to a reputable, knowledgeable and competitive mortgage lender who will take the time to explain your loan options to you. This will allow you to make an educated decision about which home loan is best for you. Just give me a call at 800-659-1819 #103. I'm here to help.
Be sure to visit my website to learn more about mortgages and the home buying process.