Burlington Vermont Real Estate Buyers celebrate the rates: Back in the 4’s!
The interest rates are back into the 4’s again and Burlington Vermont buyers are taking full advantage. The current 30 year fixed mortgage is at 4.875%. (4.912% APR) While the 15 Year fixed rate is currently at 4.375% (4.414% APR).
The main reason behind the rate reduction: Consumer Confidence was reporting quite a bit lower than expected for September. On this news, stocks have reversed a bit lower, helping Mortgage Bonds improve. Keep in mind that markets continue to be very volatile. Friday’s unemployment numbers could send rates down even lower. However, an improved figure could put rates back into the 5’s again.
While Vermont real estate prices do reflect the national trend of slow, steady improvement, the present low rate should inspire even more Burlington buyers.
These two Burlington listings under $500,000 certainly inspire: