30 Year Mortgage Rates Drop

After peaking at nearly 5.6% on June 11, the average 30 year fixed mortgage rate as tracked by Freddie Mac dropped to 5.2% in the succeeding 4 weeks.  This 7% drop in rates roughly coincided with  weakness in US stock values and world oil prices over the same general time period.

interest-rates-april-july-2009

Mortgage interest rates appear primed for continued volatility this summer as businesses, financial experts and investors alike grope for a reliable sense of where the economy may be headed as the Obama stimulus plan begins to take effect.

The recent mortgage rate decline does make home purchases and mortgage refinancing a bit more attractive. 

Residential real estate prices in Greater Boston have risen slightly while activity has picked up in the Franklin, Massachusetts region over the past few months. 

REOs (post-foreclosure homes) in many regions of Massachusetts appear to be selling more quickly, so now may be an advantageous time for investors to grab a real estate bargain.

Click here to view homes and investment properties for sale in the Greater Franklin/Route 495 region of Massachusetts.

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