Today, MarketWatch reports, “Mortgage rates have dropped so much this year – falling about one-third of a percentage point — that the low levels could ‘stimulate’ the housing market, Nobel Prize-winning economist and home-price expert Robert Shiller said Tuesday.”
Read the MarketWatch article: Robert Shiller: Falling mortgage rates may ‘stimulate’ home sales.
The average rate for a 30-year fixed rate mortgage hit 4.14% for the week that ended May 22, the lowest rate since October and down from 4.53% at start of 2014, according to federally controlled mortgage-finance giant Freddie Mac FMCC .
“That’s getting back down there and that might stimulate the market,” Shiller said.
Today’s lower mortgage rates still present an opportunity for everyone who is buying or refinancing a home.
When you are ready to take advantage of today’s low mortgage rates, please let us help you get the best mortgage possible.