According to a survey released by Freddie Mac, interest rates on 30 year fixed rate mortgages averaged 4.97% for the week ending February 11, marking the third week this year that rates have fallen below 5%. A year ago rates were slightly higher, at 5.16%
15 year fixed rate mortgages averaged 4.34% this week as compared to 4.81% a year ago.
These low rates combined with increased affordability (i.e. LOW PRICES) hopefully will encourage continued activity in our local markets. Here in the Boca Raton/ Delray Beach/ Boynton Beach area we are closing significantly more deals than this time last year. This is really a great time to buy real estate in the Boca Raton area.
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Gloria Singer is the Broker of Boca Expert Realty, a boutique Boca Raton real estate company with a focus on professional service and an unparalleled customer experience. Our select agents are amongst the top performing professionals in the field. Visit www.BocaExpert.com for information on Boca Raton, Delray Beach and Highland Beach real estate and to connect with an expert in the local market.