It is Still a Great Time to Buy a House

According to the Primary Mortgage Market Survey, mortgage rates have of lowered in the month of October. As of October 5, 2006 a thirty year fixed rate mortgage (FRM) averaged 6.3%. This is the lowest the thirty year FRM has been since the week of March 2, 2006 when it averaged 6.24%.

Also as of October 5, 2006, the fifteen year FRM week averaged 5.98% with an average .4% unchanged from the previous week. According to this same survey – a year ago, the fifteen year FRM averaged 5.54%. This proves to be the lowest the fifteen year FRM has been since the week ending March 23, 2006, when it averaged 5.97%.

To learn more about mortgage rates and the Real Estate Market contact Russel Nolting at Nolting Real Estate (636-391-997 and/or www.NoltingRealEstate.com).