Market News Update: Mortgage Rates and Your Home Search

Now is the perfect time to buy a new home as mortgage rates for a 30-year fixed mortgage rose last week after the recent Fiscal Cliff bill was proposed and signed into law by the President. Zillow recently quoted a 30-year fixed mortgage at 3.33 percent just last week, up from 3.24 percent quoted around two weeks ago, showing a slight increase and small upward trend in mortgage rates in reaction to the  temporary resolution of the fiscal cliff.

Should mortgage rates continue to rise, the first quarter of 2013 represents a perfect time to buy a new house and get the most bang for your buck. Despite this recent upswing in mortgage rates, they continue to remain relatively close to all-time lows though the housing market does continue to improve.

If you are in the market to purchase a new home, investment or otherwise, today’s market environment is very promising and offers many opportunities. I would be glad to help you.

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