The interest rates on a 30 year mortgage have been rescinding for the past 3 weeks.
This decline responds to the sluggish economy and to the perception that the inflation is not a threat.
The 30th year mortgage averages 6.15%. Lower interest rates are good news for the real estate market.
The decline of the real estate market started with a steady increase of interest rates by the Federal Reserve Bank in order to curb the perceived inflation threat.
Contributed by MLR Realty
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