Mortgage Interest Rates Reach Another All-Time Low in Alamo CA

Once again, mortgage rates have reached an all-time low here in Alamo CA and across the country. Freddie Mac, who does a weekly survey that tracks mortgage rates nationally, reported that a 30-year-fixed-rate mortgage dropped to 3.34 percent with an average .07 point for the week of November 15th. This is the lowest rate ever to be reported by Freddie Mac since they started tracking rates in 1971. During this same time period last year, we saw interest rates average at the 4 percent mark.
15-year fixed-rate mortgages also saw a decrease for the period ending November 15th. The average rate was 2.65 percent with an average 0.7 point, down from 2.69% the week prior. Last year, we saw a rate of 3.31 percent during this period of time.

Many economists are attributing the decrease in rates to higher consumer confidence and lower wholesale prices. Historically low mortgage rates make it the perfect time to buy a new home.

Take advantage of low interest rates and save even more money on your home mortgage. If you are ready to sell or buy a home, contact me by email or call me, Brad Gothberg, at (925) 648-5326. I have been a real estate professional for 23 years and my qualifications include the production of over $105 million in sales within the past 5 years.