Louisville Kentucky Real Estate

The Lexington Kentucky newspaper, the Lexington Herald-Leader reports today that a real estate mortgage rates decrease has happened over the past week.  Rates for 30 year mortgages dropped to the lowest level in 5 months at 6.26% according to Freddie Mac which is down from 6.33% the week before.

5 months ago on May 17 2007, 30 year mortgage rates were at 6.21%.

15 year fixed rate mortgages have averaged 5.91% which is down from 5.99% last week.

5 year adjustable rate mortgages averaged 5.98% which is down from 6.03% last week.

1 year adjustable rate mortgages averaged 5.57% which is down from 5.66% last week.

Its a good time to buy real estate in Louisville Kentucky especially if you are moving up to a more expensive property.  A lot of homes for sale in Louisville Kentucky have built up inventory on the market - and now that we are getting into the holiday season, a lot of persons will start losing activity and interest on their home - which spells an opportunity for a savvy person looking to pick up a deal in the real estate market.

Regardless, its a good time to lock in interest rates now if you haven’t already done so as many experts believe interest rates are going to start climbing 1st quarter 2008.

This entry was posted on Friday, November 2nd, 2007 at 2:35 pm and is filed under Shelbyville KY Real Estate, Prospect KY Real Estate, Louisville Real Estate, Goshen KY Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.