Last week investors put money into the US Treasury market, pushing mortgage rates down. As money flowed out of stock markets and into bond market yields on key government bonds went down, with the 10-year Treasury going below 1.9% for the first time since June of 2013 and only the second time ever.
30 Year Mortgage Rates Back Below 4%
This movement in the markets sent 30 year mortgage rates below 4% for the first time in 16 months and only the second time ever in history. With rates back in this territory and inching closer to all time low territory, lenders are expecting twice as much refinance activity as in previous months.
Great Time for Buyers
Now is a great time to be a buyer in the Arlington, VA real estate market and in the Greater Washington DC market. While inventory still remains low the supply of homes for sale has increased over the last few months. This combined with the low interest rates makes it a great time for people looking to buy a home before the end of the year.
Buy a Home With Us and If You Don’t Love it, We’ll Sell it for Free or Buy it Back
If you are in the market for a home call us today to learn about our unique guarantee. If you don’t love your new home we will sell it fro free or buy it back in the first 12 months. For more information call 571-969-7653 or fill out the form below: