30 Year Fixed Mortgage Rates – First Time Home Buyers Seek Low Interest Rates in April 2010
Posted on | April 28, 2010 | Comments Off
The average for 30 year fixed mortgage rates has been very low for the entire year of 2010. For the year we have seen a range of 4.75% to 5.15% for the 30 year fixed mortgage. There has only been a brief time in which mortgage rates have been above 5%. Many first time home buyers are seeking low interest rates in April of 2010 as there is an $8000 first-time home buyer tax credit available to go along with low mortgage rates.
The first-time home are tax credit has gone a long way to help stabilize home prices. Some housing markets are even seeing a slight increase in home prices over the last several months as a first-time home buyer tax credit has brought many first-time buyers into the market which has reduced the overall inventory.
With 30 year fixed mortgage rates around 5%, home prices extremely affordable, and an $8000 tax credit available now is one of the best times in recent history to purchase a new home. With this being said it is very important to look at your overall financial picture and make sure you can afford a home before making that purchase.
Author: Heather Best