Archive for July 7th, 2007

Good News for Las Vegas Real Estate – Mortgage Rates are Dropping

Saturday, July 7th, 2007

MSNBC.COM reports that this week saw 30-year rates on mortgages drop.

“Rates on 30-year mortgages sank this week to a one-month low, while rates on most other mortgages also fell, good news to prospective home buyers.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.63 percent. That was down from last week’s 6.67 percent rate and was the lowest since early June, when rates stood at 6.53 percent.

The moderation is welcome for people in the market to buy a home. In mid-June, rates on 30-year mortgages climbed to 6.74 percent, an 11-month high.

Rates on many mortgages have ebbed in recent weeks as investors’ fears about an inflation have eased.”

You can read the rest of the MSNBC report here.

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