The beginning of the year was quite challenging for fixed mortgage rates. Fortunately, mortgage rates have finally started to improve after five weeks of steady decline. Previously, the average 30-year fixed rate was 4.12%. This week’s break from the downward streak has resulted in a rate of 4.14%. Some agree that this is a sign of the economy getting back on track. On the other hand, adjustable-rate mortgage averages have started to suffer. This week, ARM averages have decreased from 2.96% to 2.93%.
We must keep an eye on the economic news, because it is possible that the recent improvements are only temporary. For more real estate news, or for any questions regarding real estate please contact The Barr Team, located in Irvine! The Barr Team at Complete Real Estate Solutions has done their best to assemble a team of superb real estate professionals. These agents have years of experience, and are qualified to assist you with all of your real estate needs, regardless of whether you are trying to buy or sell! Contact The Barr Team, today!