Asheville Mortgage Rates A Record Low!
Asheville Mortgage Rates A Record Low!
Asheville mortgage rates dropped this week, improving the buyer’s purchasing power for a new home. A 30-year fixed-rate mortgage, the most popular choice, averaged 4.39% this week, its lowest average for 2011. A 15-year fixed-rate mortgage and the 5-year adjustable rate-mortgage also both reached new historical record lows in the 3’s.
Rates mostly dropped across the board amid signs of a weakening economy and most likely will stay at historical low rates for the rest of this month. Even with employment up the increase of not large enough to gain confidence in the economy.
Asheville Real Estate continues to be stronger than last year but only by 3%. This is positive but still very much a buyer’s market. Asheville Homes will continue to stabilize in some areas but mostly seller can expect a 1% loss in value a month.
With Treasury bond yields fell markedly after signs the economy was weaker than what markets had previously thought allowing fixed mortgage rates to follow.
If you are a Buyer this is the time, Sellers need to still be flexible but I believe next year will be different and Buyers and Sellers may be changing places.
