Mortgage rates makes historic drop
Fri, 11 Nov 2011 02:40:19 GMT —
For people looking to purchase a home, real estate brokers say now is the time to do it.
30 year mortgage rates are now under four percent. This is the lowest rate ever recorded by Freddie Mac.
Becky brown with Brown and Brown Real Estate Group Inc. says the low rates are an effort to boost the economy.
"If you're going to buy a house, do it now because interest rates are so fantastic and there are a lot of houses on the market to choose from. And I can remember back in the 80's where a good interest rate with good credit was 11 percent," said Brown and Brown Real Estate Broker Becky Brown.
Brown says stimulating the housing market helps the economy by putting plumbers and construction workers back to work.