Mortgage rates drop below 5%

Just last week, rates dropped to 4.5% for the second time EVER. The last time was about a year and a half ago, but they only stayed that low for literally an hour or two. This time, it seems like rates are staying lower a little longer. Today’s rate is 4.625% on a 30 year fixed (certain restrictions apply).

 “Consumer confidence is up, which means consumers are more optimistic about their personal financial situation and more likely to buy higher priced items. However, with unemployment also up and fear in the stock market, money is flowing into bonds and keeping mortgage rates low,” says Blair Weed of the Meridian Lending Group. “My recommendation to those considering financing/refinancing a home is to lock in your interest rate now.  There is so little room for rates to go down, yet so much pressure for them to go up.”

*Market Highlights

Average sold price for single family homes up 7.8% over April 09.

Number of closed single family homes up 22.1% year over year.
*All numbers per the Denver MLS.

Coming Soon

4366 Perth Cir, Denver—3 beds/2 baths, $149,500

Just Listed

8500 E Jefferson Ave #10-I, Denver—2 bed/2 bath, $146,000—Under contract in 9 days!

269 Galapago St, Denver—1 bed/1 bath, $179,900

Price Reduced

3100 Huron St #2D, Denver—2 beds/2 baths, $299,000

594 Chandelle Rd, Castle Rock—4 beds/4 baths, 7 garage spaces, $649,900

5347 W Fremont Pl, Littleton—5 beds/4 baths, $299,900—Under contract!

11627 Bowles Cir, Littleton—5 beds/2 baths, $212,900

2232 E 100^th Pl, Thornton—5 beds/4 baths, $279,900

If you’d like more information on historically low interest rates for the purposes of purchasing or refinancing, let me know and I can help or put you in touch with someone who can.