The average price of a fixed-rate mortgage has continued its slide; Placing it at a 12 month low.
According to a Freddie Mac Survey, mortgage rates are sitting at a 12 month low. The 30 year Fixed-rate mortgage dropped to 4.37%, down one basis point from a year earlier. The combination of slower economic growth and cooling inflation led mortgage rates to drift downward, Freddie Mac said in their primary mortgage market survey.
While hosing activity has softened in most of the United States, the Treasure Valley has not seen the same softening effect. These lower rates, coupled with the housing market going into the spring, should rekindle a booming market for the Boise area. Currently Boise sits in the top ten hottest real estate markets in the nation.
Now is the time to act and lock in mortgage rates.