The Notorious B.I.G. picked up this stat from last Friday: The national average for a 30-Year Fixed Mortgage is now below 5% for the first time since the summer of 2003. And your elected/ appointed officials down in D.C. want it even lower.
My take is that they’ll succeed. Meanwhile, if no one has a job by the time they get mortgage rates where they want them, who the f&%@ will be able to take advantage of these loans. They actually make you prove your income these days, after all!
The party continues.
Full Story: 30-Year Fixed Mortgage (B.I.G.)