Categorized | Finance and Mortgage

Mortgage Loan Rates Remain Below Four Percent

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According to the most recent data released, fixed-rate mortgage loans continue to remain below four percent. It is the third consecutive week that mortgage rates have been below the four percent figure. The fifteen-year fixed-rate mortgage loan is just over three percent. There is hope that the low fixed-rate for mortgage loans will positively impact the residential real estate market.

Many real estate analysts believe that the outlook for the real estate market will continue to improve. With the mortgage loan rates remaining at record lows, and recent reports indicating positive economic growth, there is reason to believe that the market may finally reverse its downward trend.

The most recent reports on the economy have been strong, as retail sales have increased for five straight months. Consumer confidence as a whole is up as well. Perhaps the most important figure for the real estate market is that homebuilder confidence has now increased for two straight months.

The growth in homebuilder confidence is very important with respect to the growth of the real estate market. It is an indication that more consumers are considering buying new homes, or upgrading their current home. With homebuilder confidence growing, there is hope that the overall residential real estate market will start to see positive growth in the near future.

Most analysts believe that the United States residential real estate market will not see any positive growth until midway through the next year. However, if the current trends continue, they may expedite the pace at which the real estate market improves.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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