Since mortgage interest rates are supremely important in the decision-making process in terms of real estate, I thought it would be wise to post a new interest rates update. While the mortgage industry “seems” to have stabilized to a degree, there always will be a certain degree of volatility to the rates.
As the chart below shows, there was a run-up in the rates in December and have since dropped off a bit, running from a near-six month high rate of 5.5% on a 30 year fixed rate loan, to now stand at about 5.2%. Of course, if you were to be in the market for a nice 15 year mortgage, your current Iowa average rate is about 4.7%.
Here’s the chart to show how rates have fared in Iowa over the last three months…
Courtesy of BankRate.com
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I’m a fellow real estate broker from Denver. I came across your website via Carnival of Real Estate. I like your site and have gleaned a few ideas from it. Hope you don’t mind. Here’s wishing you a great 2010!
I certainly don’t mind at all, welcome to my Dubuque Real Estate Blog. While I don’t seem to get as much time to blog as I’d like, I have a lot of fun in posting items to it.