Mortgage Rates Slip Below Six Week Low

April 18, 2014

Mortgage rates are fluctuatingMortgage rates for the 30-year fixed rate mortgage sunk this week, with reports of the average rate being 4.14 percent, down from 4.20 percent at this same time last week. Rates have continued to slink down for the past week, and these are nearing the lowest that they have been all year, according to the Zillow Blog.

This changing focus for investors into safer assets, like U.S. Treasuries and mortgage-backed securities comes at a particularly auspicious time, as lower rates may drive buyers who are on the fence onto the market. Of course, more buyers may not be able to find what they are looking for in markets, as many potential sellers are waiting for prices to edge up, too.

Of course, keep in mind that the actual mortgage rate you’ll qualify for may not be close to these numbers. They are collected nationally and tend to be based on low-risk borrowers with 20% down payments or equivalent home equity, if they are refinancing.

If you are looking for ways to boost your credit rating and help your savings grow, be sure to look out for articles from the Equifax Finance Blog right here on Chicago Real Estate Forum. Each week, we share wisdom from Equifax experts that can help prospective homebuyers, those in the market now, and current homeowners, find better ways to make their money work for them toward achieving their financial goals.

If you are a buyer on the fence, what would mortgage interest rates have to reach for you to get onto the market? Let us know in the comments!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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