According to the associated press, the average rate on 30-year fixed mortgages inched down toward its record low this week, helping to keep home buying affordable.
Mortgage buyer Freddie Mac Says the rate on the 30-year loan dipped to 3.38% from 3.40% last week. This is slightly above the 3.31% rate reached in November, the lowest on recrods dating back to 1971. The average on the 15-year fixed mortgage remained unchanged at 2.66%. The record low being 2.63% In all of 2012, the average for a 30-year fixed mortgage was 3.66%, the lowest annual average in 65 years, according to Freddie Mac.
Cheaper mortgages are a key reason the housing market began to come back last year and continued low rates promise continued recovery in the housing market for 2013. With these rates in mind, moving away from renting and into homeownership remains the best choice for consumers. 
If you are looking to buy a home in Charlottesville, Sell a home in Charlottesville or invest in real estate, contact me and let me help you make it happen!
Quinton Beckham
Keller Williams Realty
434.242.6212
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