You read that right! A recent article from the Wall Street Journal outlines how mortgage rates have dropped and that the 4% mortgage is back in time for a spring selling season!
From the article:
The average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018, according to data released Thursday by Freddie Mac, the mortgage-finance giant. The rate was down nearly a quarter point from a week earlier, its biggest drop in over a decade.
In many cases rates are lower than 4%. Lenders advertising mortgages at sub-4% rates this week include Toronto-Dominion Bank, HSBC Holdings Plc and Teachers Federal Credit Union, according to Bankrate.com.
This is great news for both buyers AND sellers. Low mortgage rates allow for buyers to borrow more money and that money is able to spent on your home!
Whether you are a buyer or a seller, you should not pass up this opportunity! This spring is going to be a great time for the real estate market and we don’t want you to look back at what could have been!