Palm Beach Real Estate and Loans

With all of the negativity (real and imagined) in the real estate and mortgage industries lately, it was fantastic to see some good news reported in Realtor Magazine Online yesterday.

Freddie Mac released the following in it's latest weekly  report:

• The national average rate on a 30 year fixed loan had fallen to 6.26% and 15 year fixed rate loans were at 5.91%.
• As far as adjustable rate loans, the 5 year ARMs were averaging 5.98% and 1 year ARMs were averaging 5.57%.

Now, as I have discussed earlier - the rate is NOT the only thing to consider when shopping for mortgages - you have got to look at the whole home loan picture!

However if all other things were equal, lower rates are important and when you're trying to stimulate Home purchases, this does help to make them more affordable.

Call me with any questions you may have about financing your Palm Beach real estate!