Rates for 30 year fixed rate mortgages have been hovering around 5% for the last two months. According to a February 26th survey conducted by Freddie Mac, the average rate for a 30 year fixed rate loan was 5.07%. The average rate for a 15 year loan was 4.68%.
Some folks are waiting to see if rates will go lower. Whether they do or not, this graph - showing rates back to 1992 - should put things into perspective.
Rates right now are about as they've ever been. You'll find our full mortgage report and daily rate updates on the buying real estate page at DaneCountyMarket.com.
Have a good weekend,
Dan Miller, Keller Williams Realty and DaneCountyMarket.com
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