For home buyers in Folsom and around the nation, we get some good real estate news as we near the end of 2011: A new Freddie Mac survey of mortage rates shows that rates hit a new low this week.
Freddie Mac's "Primary Mortgage Market Survey" showed that rates on 30-year fixed-rate mortgages averaged 3.91 percent with an average 0.7 point for the week ending Dec. 22, down slightly from the previous week.
Meanwhile rates on 15-year fixed-rate mortgages averaged 3.21 percent with an average 0.8 point, unchanged from last week's record low but down from 4.15 percent a year ago.
In the end, rates on 30-year fixed mortgages have been at, or below, 4 percent for the last eight weeks. That translates into $1,200 in annual savings for a homebuyer taking out a $200,000 mortgage, according to Freddie Mac's chief economist. Not bad! all4now
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