Interest Rates Still Low

We get an update on lending issues from United Lending every week and yesterday’s news was that rates are still well under 5%. 4.5% for FHA and VA and about 4.875% for 30 year fixed conventional. ARMS are under 4%.

I keep expecting rates to rise, but we’re starting into the most active time of year for real estate sales and they’re still near record lows. If you follow national news on the real estate market you know that much of the country is still in a slump, which is keeping a damper on rates.

In Austin we get the benefit of a strong local economy and housing market, plus low rates. This is a great time to buy sell or invest in Austin real estate.