Mortgage Rates Dip for 2nd Straight Week

30 year at 4.71% while 15 year hits 4.08%

As Treasury Yields fell for the 2nd straight week, so did mortgage rates. Rates on a 30 year mortgage are now around 4.71% which is a bit higher than a 40 year low of 4.17% reached back in November.

As some buyers remain on the sideline, the dip in rates has helped the refi market as it normally does.

For all of you who are thinking of buying but are somewhat hesitant, I mentioned back in November when rates hit record lows that then was the right time to buy. Well with property value bottoming out now and rates still attractive, you still have the opportunity to get a great deal on many properties that are on the market.

Even though rates are 1/2 point higher than the record lows, the fact remains that this is a great time to buy!