Anna Child Group
I routinely watch BankRate.com because they chart interest rate trends. Here is their 30 Year Conforming Fixed Rate Mortgage chart for today:
Conforming 30 Year Fixed Rate Mortgage 10/02/2013 BankRate.com
As you can see, mortgage rates are down from 4.67% in early September to 4.32% today.
And, with some of the employment and economic reports coming in softer than expected, we may see rates stay where they are or possibly go a little lower.
Either way, the next few months are going to be an excellent time to buy and sell a home in Orange County.
Buyers: There are fewer buyers out looking right now, and there are thousands of dollars to be saved in the life of your mortgage by locking in a low rate. Home shopping in the 4th quarter this year could save you a lot of money in the long run.
Sellers: With rates coming back down, more buyers can afford to buy your home at the price you want to sell. Also, fewer homes are on the market during the 4th Quarter, so buyers will compete for your home if you price it enticingly.