Thursday, May 22, 2014

Mortgage rates near seven-month lows

Buying  property? If you want to save money on interest rates, now is the time to lock in low rates.

Mary Ellen Podmolik of the Chicago Tribune reported this morning that average fixed mortgage interest rates fell for the fourth straight week, edging closer to the 4 percent mark. She found that the average rate on a 30-year, fixed-rate mortgage was 4.14 percent this week, compared with 4.20 percent last week and 3.59 percent in the same week a year ago, according to Freddie Mac's rate survey. It was the lowest rate recorded in the agency's weekly survey since Oct. 31. Meanwhile, a 15-year, fixed-rate mortgage carried an average rate of 3.25 percent this week. That compared with 3.29 percent last week and 2.77 percent a year ago. She states that a greater-than-expected slip in the nation's industrial productivity in April, following two months of gains helped drive down rates this week.

Whether you are a first time buyer, seller, or a seasoned real estate investor we can handle your transaction in a smooth, efficient manner at a very reasonable rate. Our office is located in the heart of downtown Chicago. Being downtown we are close to many major title companies and have a firm ongoing relationship with them. Our knowledgeable attorneys are in tune with the market, emerging trends, evolving financing options and the strategies that best serve our clients' interests.

To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

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