30 year mortgage rate - Bullish for real estate investors
October 28, 2008 · Print This Article
I found this great article, giving me an indication not everything is bad in the real estate sector:
Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this week, down from 6.46 percent last week. The sharp decline pushed 30-year rates down to the lowest level since they stood at 5.78 percent the week of Sept. 18.
Analysts attributed the decrease to an easing of inflation concerns which now have been replaced with rising worries that the country could be headed for a prolonged recession. Interest rates generally fall in periods of economic weakness.
While this change may be good for investors, it is still concerning me that this is occurring, primarily, because economists fear that we are sinking into a recession. Naturally, that is a great cause of concern. Regardless, it is always good to see something for real estate investors to at least be enthusiastic about.
Carleton Sheets is an expert real estate investor and the author of the No Down Payment System. Of course, Carleton is an avid real estate investor. However, he is also passionate about teaching others about how to build their real estate investment empire.
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