While the national economy has been struggling over the past few years, one positive side-effect for consumers looking at Dallas real estate has been the impact of the economy on the housing market and the low mortgage rates that have come as a result.
Even though the economy is beginning to bounce back, mortgage rates still remain at all-time lows, making 2012 the perfect time to check out Dallas homes for sale and find one that’s right for you.
According to a Jan. 12 mortgage market survey by Freddie Mac, 30-year fixed rate mortgages dropped to 3.89 percent in early 2012, which is the lowest rate ever recorded. An Associated Press report confirms that 3.89 percent is a new all-time low, dating back to the 1950s when records for mortgage rates started to be kept.
There has literally never been a better time to take advantage of these low rates and buy Dallas real estate. The 3.89 percent mortgage rate recorded by Freddie Mac beat out the previous all-time low of 3.91 percent, which was reached in Dec. 2011.
In addition, if consumers who are interested in Dallas homes for sale choose a 15-year fixed rate mortgage, even better rates await. The average rate for 15-year mortgages dropped from 3.21 percent to 3.16 percent as of Jan. 12, also an all-time low.
Whether consumers select a 15-year or 30-year mortgage, the fact of the matter is that mortgage rates have never been lower. It is always possible that mortgage rates will continue to drop, but with rates at an all-time low right now, buying as soon as possible is a smart decision.
If you are in the market for Dallas real estate and want to take advantage of the record low mortgage rates that are currently available, contact DFW Realties today.
Tags: Dallas real estate, Mortgage Rates
