Mortgage rates fell this week, with the 30-year fixed mortgage sinking to its lowest rate in 37 years as the Federal Reserve cut interest rates to historic lows – providing homeowners and investors with rock bottom interest rates for Las Vegas Real Estate.
Freddie Mac indicated on Thursday that fixed rates on a 30 year mortgage average 5.19% for the week ending on December 18th, dropping from 5.47% last week and way below the year ago rate of 6.14%.
“Interest rates for 30-year fixed-rate mortgage rates fell for the seventh consecutive week, moving these rates to the lowest since the survey began in April 1971,” said Frank Nothaft, Freddie Mac vice president and chief economist.
What does this mean to Las Vegas Real Estate? We believe these extremely low rates will stimulate our local markets for investors and potential homeowners. These rates help to make our Las Vegas Real Estate even more affordable than anytime in the last five plus years!
