Lower Mortgage Rates May Boost Housing Market
New York, NY, January 9, 2019-Mortgage rates have fallen to around their lowest levels in eight months, according to a report by the Wall Street Journal. This may offer a potential boost to the housing market.
“The average rate for a 30-year fixed mortgage fell to 4.51%, matching the lowest level since last spring, according to data released Thursday by mortgage-finance giant Freddie Mac. That rate is still higher than its level of 3.95% from a year ago but has fallen from a more-than-seven-year high of nearly 5% last fall.
“The decline stands to give consumers another shot at obtaining low rates on loans to purchase or refinance their homes, if they can stomach volatile financial markets and still lofty home values.”