Rates Fall - Price Dropped - Broker Agent

Freddie Mac reports that interest on 30-year, fixed loans fell for the fourth straight week, landing at their lowest level in nearly four years. Rates averaged 5.48 percent for the week ended Jan. 24 -- down from 5.69 percent a week ago. This drop was driven by the Federal Reserve’s biggest cut in 20 years to fed fund rate. Freddie Mac also reports that rates on 15-year mortgages declined to 4.95 percent from 5.21 percent, rates on five-year adjustable-rate mortgages dropped to 5.13 percent from 5.4 percent, and rates on one-year ARMs slipped to 4.99 percent from 5.26 percent.

Housing industry observers are hopeful that the recent decline in mortgage rates will lead to a recovery in the market.

Our sellers on Paizano Court in Roseville at Granite Bay Pointe are serious about selling and have lowered their asking price for 799,500 to $759,000. This former model home has upgrades galore, has the “wow” factor and at this price is a lot of house for the money. Call or email Robin or me to arrange a private viewing. This one is fun to see.

BTW if you happen to be a real estate professional check out this month’s Broker Agent magazine and notice who is on the cover as the Sacramento region agent broker of the month for January.