Real Estate

Mortgage Interest Rates Head Further South – Fed Meetings in March!

Interest rates on 30 year mortgages continue their unexpected drops back to early 2015 levels. Interest rates notably dropped to just 3.65% on 30 year fixed rate mortgages in the last week. It’s now 6 weeks in a row that interest rates have dropped, during a time period when they’re supposed to be on a documented and forecasted rise.

“The drops are going against all economic predictions for 2016,” commented Gerard DiRuggiero, Principal Broker of UrbanLand Company. “We’re now in a ‘falling rate environment the last 6 weeks. The Fed meets again in March about overall interest rates and are supposed to be making a rate adjustment like they did last December. The mortgage industry could respond with a jump in their rates as a reaction.”

Freddie Mac, a major predictor of interest rate increases for 2016, has new predictions to report. Their multi-part forecast now is that “if Treasury Bond yields hold at their current low levels, mortgage rates may sink a little further before stabilizing.”

What’s all this really mean? If you’re a prepared home buyer, you can secure 30 years of mortgage payments at 1 low rate that is around 3.65%, depending on which week you actually purchase. “If you’re seriously considering buying but haven’t taken the time to get ready, we offer a fast track to smart ownership – our UrbanLand Company Home Buyer Workshops give you the tools & info you need to make a strategic move, including how to use $0 Down / easy 100% financing programs that DC offers,” concluded DiRuggiero.

UrbanLand Company Home Buyer Workshops have produced $19.3 million in purchased homes since 2014 for DC and Maryland residents, many of which are $0 Down or low down payment loans. To find out next Workshop dates, RSVP here. Workshops are FREE of charge and are held at 913 Florida Ave. NW. near the U Street METRO.

Here’s some of the homes we’ve sold to Workshop attendees!

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