Freddie Mac has released the results of it's Primary Mortgage Market Survey (PMMS), which shows mortgage rates drifting lower, with the 30 year fixed rate matching the yearly low of 4.71%, down from last week of 4.78%, and last year of 5%.
What is the reason for the lower rates? Weaker economic data reports , and reduced Treasury bond yields have allowed the mortgage rates to drift lower.
Data reports on the housing market, on the other hand, were a bit more uplifting. The National Association of Realtors report that sales rose in March for the second month in a row, the highest index reading since November 2010.
Still a good time to buy or refinance. Want to know what your home is currently worth? Contact Boivin Appraisals, Inc for a market value appraisal to find out.
www.boivinappraisals.com