JB Goodwin Realtor Rocky Breon Says Drop In Mortgage Rates Is Good For Real Estate
Interest rates in May on 30-year fixed-rate home mortgages fell to their lowest point this year. JB Goodwin Realtor Rocky Breon says now is still a good time to buy or sell home in Cedar Park and Leander.
AUSTIN, Texas-May 17, 2010 - Home mortgage rates dipped to their lowest point all year the second week of May 2010. Greater Austin area JB Goodwin Realtor Rocky Breon says this lower rate should make homes more affordable just in time for the busy summer selling season.
“People who are planning to buy a home in the Cedar Park and Leander area this summer should take advantage of these lower mortgage interest rates,” Breon says.
The most commonly used loan, the 30-year fixed-rate mortgages, averaged 4.93 percent for the week of May 13, down from the week before of 5 percent, according to a survey released by Freddie Mac. Reuters reported that this is the lowest the rates have been since December 2009.
“With the homebuyer tax credit now over, this is a welcome reprieve for individuals looking to buy now,” adds Breon. “Summer is a widely-known as a busy time for the real estate business here in Austin. The drop in mortgage rates is an added benefit for both buyers and those looking to sell their homes.”
The deadline for apply for the homebuyer tax credits was April 30 and those who signed contacts before that date still have until June 30 to close on the sale.
“The federal tax credits gave the housing market a shot in the arm, and now lower home mortgage rates should help the real estate market recover even more. I am optimistic about the future of the real estate market, especially in the Cedar Park and Leander area.”
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About Rocky Breon:
Rocky Breon is a JB Goodwin realtor with over 30 years of experience who helps families buy and sell homes in Austin, Cedar Park and Leander, Texas. A top JB Goodwin producer and certified negotiation expert, she works with both residential and commercial real estate in sales and leasing. For more information visit http://www.RockyandLindsay.com.
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