A down to earth look at real estate issues in Northern New Jersey with an environmental twist.
Saturday, May 21, 2011
Rates Drop for 5th Week In Row
Inman News reported that mortgage rates are down from 4.68 percent last week and 4.84 percent a year ago. There are many local and personal factors that can drop this even lower. Our Zillow calculator (at right) is showing an even lower 4.42%. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, before climbing to a 2011 high of 5.05 percent in February.
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