Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 6.62% with an average 0.4 point for the week ending July 3, 2007, down from the previous week when it averaged 6.67%. Last year at this time, the 30-year FRM averaged 6.79%. With the Nashville real estate market turning from a seller’s market to a buyer’s market, this might be the perfect time to buy.
The 15-year FRM on Friday averaged 6.30% with an average 0.4 point, down from the prior week when it averaged 6.34%. A year ago, the 15-year FRM averaged 6.44%.
If you believe that Nashville mortgage rates still have room to drop, you may want to consider a rental home in Nashville. The Remarkable Homes Team operates Nashville’s only property management firm and we are committed to helping our clients find the best housing possible.
If you liked this post, you will certainly enjoy:
Snowing in Nashville before Christmas
12 Nashville Real Estate Predictions for 2009
The Best Places To Buy Foreclosed Property
