Low rates and high inventory level out to one thing: investors looking to purchase property have an opportunity that hasn’t been seen in years, if not decades.
According to Freddie Mac’s Weekly Primary Mortgage Market Survey, found at http://www.freddiemac.com/pmms, rates dipped again last week for the fifth week in a row. A 30-year fixed mortgage is 3.75 percent. Compared to 3.78 last week and 4.60 percent last year. This new figure represents a substantial savings for potential homeowners.
Rates have been below the 4-percent mark since December, and this new 30-year fixed rate is the lowest since long-term mortgages began in the 1950s.
The weekly decline, as many analysts and experts say, is in great part due to the result of Europe’s unstable…