Mortgage Rates Drop

Rates on 30 year mortgages fell last week to 4.19%, the lowest level in decades. They were pushed down by lower Treasurey bond yields. Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on coporate debt. As a result, the average fixed rate for 30 year fixed loans dropped to the lowest level on record dating back to 1971, mortgage buyer Freddie Mac said. It's down from 4.27% the previous week. The last time rates were this low were in the 1950s.
Tips for Fall Home Sellers:
Price aggressively: You don't have the luxury of starting high and making incremental price drops. Be competitive. Price your home below the comparable homes in your market.
Stage it to sell: Fall is one of the most beautiful times of the year. Make sure the front yard is clear of leaves, clean out gutters and downspouts, and touch up paint. Incorporate tasteful fall decor.
Be flexible: Bargain Hunters are out in force in the fall, so don't be discouraged by low ball offers. See them as an opportunity to negotiate. If you don't want to come down on price, be creative, such as offering to pay for closing costs or repairs.




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