Melbourne Beach, FL Real Estate: Take Advantage of Today’s Great Mortgage Rates! | Carolyn Smith, Realtor

Posted on: February 3, 2012

Low mortgage rates, Melbourne Beach

It is a great time to buy! Take advantage of today's historically low rates!

Carolyn Smith, Realtor – Melbourne Beach, FL Real Estate: Now is the time to take advantage of fantastic mortgage rates!

According to CNN Money, mortgage rates hit a new record low this week. The 30-year fixed rate fell to an average of 3.87% and the 15-year fixed rate dropped to 3.14% for the week ending on February 2. Both of these rates are the lowest ever recorded by mortgage buyer Freddie Mac.

To put these great rates into perspective for you, today’s mortgage rates are almost a full point lower than they were one year ago. And at 4.81% one year ago, borrowers still felt like they were getting a fantastic rate! According to CNN Money, the difference in monthly payments between a 4.81% loan and a 3.88% loan is about $54 for every $100,000 borrowed, which equates to more than $1,620 a year for someone with a loan balance of $250,000.

The real question is, how long will mortgage rates stay this low? No one can say for sure, but prospective buyers who are sitting on the fence would be wise to start actively looking at homes or condos today. There are some very desirable homes for sale right now, and along with the historically low interest rates and the threat of rising interest rates, it is the perfect time to buy your first home, a vacation property, your future retirement condo, or an investment property. If you are thinking of buying a home or condo in the Melbourne Beach, Indialantic, Indian Harbour Beach, Satellite Beach, Melbourne, West Melbourne, Suntree, Viera, or Cocoa Beach areas, don’t wait! Now is the perfect time to get off the fence and start looking at some of the beautiful properties that are currently listed for sale in Brevard County, Florida!

Source of info: CNN Money

Start your dream home search right here: Carolyn Smith Realtor Website

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


SRES – Accredited Seniors Real Estate Specialist

CDPE – Certified Distressed Property Expert

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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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