Asheville Home Loans Dropped Below 5%

Mortgage interest rates over the last several months have edged up but this week it dropped below 5% allowing for some incredible opportunities.

A thirty year fixed rate averaged 4.87 percent according to Freddie Mac’s weekly mortgage market survey. Last year at this time averaged 5.05 percent.

A fifteen year, fixed-rate mortgage also dropped for the week, averaging 4.22 percent, down from last week’s 4.27 percent and believe it or not a five year adjustable rate mortgage dropped to 3.8 percent.

With the low mortgage rates, the consecutive monthly increase in home sales we are enjoying the strongest pace in years. This is the time to consider investing in a home or vacant land.

Asheville Real Estate, Waynesville Homes, Maggie Valley Homes and Weaverville Homes have seen a faster pace in home and land sales than the national average and the interest rates are following the trends.