Last week, the average 30-year mortgage rate dropped to 3.58%, the lowest it’s been so far into 2016, proving that record low mortgage rates don’t seem to be going away, not very quickly at least.
We saw mortgage rates continue to decrease over the course of 2015, often hitting record lows. At the end of the year, some experts predicted that mortgage rates may start to rise again and level out in 2016. That doesn’t seem to be the case. Over the past couple months, it was clear that low rates were holding out, and last week’s 3.58% is actually the lowest average rate since May 2013.
In the midst of a sellers market, this spring real estate season provides good reason and continued incentive for buyers as mortgages sustain low rates.
If you’re interested in Sanibel real estate–whether you’re buying, selling, or just looking–contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. We’re also more than happy to help you find the Sanibel realtor that’s the right fit for you.
Source: Average rate on 30-year mortgage slips to 3.58%
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This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.
