On Friday, the Denver Post reported from the Associated Press that mortgage rates fell to their lowest level of 2010 this week! Fixed rate mortgages tend to follow the yield of 10-year Treasury notes and those yields sank because of worries over European debt that created a flight to safer U.S. securities.
A 30-year fixed rate loan will cost a borrower, on average, 4.84 percent, down from 4.94 percent the week before. These rates are the lowest since December 2009.
Low interest rates coupled with an abundant inventory continue to make for a compelling buyers market.
Anne Mayberry 970-846-1425