For The First Time Ever… Mortgage Rates Are Below 4 Percent!

Posted on: October 7, 2011

Mortgage rates have never been cheaper!

This week, the average rate on a 30-year fixed mortgage fell below 4 percent to 3.94 percent. This is the lowest it has ever been since Freddie Mac began tracking it in 1971. Prior to this week, the low was 4.01 percent, which was recorded last week. Concurrently, the average for a 15-year fixed rate mortgage also hit a record low, coming in at 3.26 percent.

If you can qualify, right now is a great time to buy a home or refinance your current mortgage. Imagine the savings! Compared with just three months ago when 30-year fixed mortgage rates were around 4.6 percent, at today’s rates you can save about $40 per month, per $100,000 borrowed. This equates to a savings of almost $14,000 for every $100,000 borrowed over the lifetime of the loan. And according to MSNBC, it’s possible that mortgage rates could fall even lower, now that the Federal Reserve plans to reshuffle its portfolio of securities with the goal of lowering long term rates.

If you are ready to take advantage of these amazing rates and start searching for your dream home, I would love to help you! Give me a call or shoot me an email and we can discuss your real estate wants and needs!

Source of info: and

Whether you are buying or selling, it would be my pleasure to represent you! 

Please call or email me today to review your real estate needs!

Contact me, Carolyn Smith at:

Phone: 321.271.0870


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Your Coastal Estate Team: Carolyn Smith, Realtor & Bridget Sentz, Realtor

"Your Coastal Estate Team"

Contact Carolyn at:

RE/MAX Olympic Realty
445 Fifth Avenue
Indialantic, FL 32903

Direct: 321.271.0870
Fax: 321.574.3044


Contact Bridget at:

RE/MAX Olympic Realty
445 Fifth Avenue
Indialantic, FL 32903

Cell: 321.537.5720
Office: 321.952.4000


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