Scottsdale Arizona - 30-Year Rates at Lowest in 4 Years
30-Year Rates at Lowest in 4 Years
Freddie Mac reports a decline in the 30-year fixed mortgage rate to 5.47 percent during the week ended Dec. 11 from 5.53 percent last week and 6.11 percent a year ago.
Some lenders are locking in even lower rates as they build on momentum started when the Federal Reserve announced plans last month to purchase a substantial number of mortgage-backed securities. HSH Associates and Inside Mortgage Finance are reporting interest on 30-year fixed loans at 5.33 percent and 5.09 percent, respectively.
Freddie Mac chief economist Frank Nothaft says mortgage rates also were driven downward by the recession and rising unemployment.
Candice Boggs
Arizona Homes Realty, LLC.
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About Scottsdale Arizona
Scottsdale is a satellite city of Phoenix in Maricopa County, Arizona, USA. Named by the New York Times as "The Beverly Hills of the Desert," Scottsdale has become internationally recognized as a premiere and posh tourist destination, while maintaining its own identity and culture as "The West's Most Western Town." However, despite this motto, in the 1970s, most construction of new horse corrals was prohibited. What had, in the twentieth century, been vacant desert, is vastly converted to either urban &/or suburban environment. As of the 2000 census, the city is the 82nd largest city in the United States, with a population of 202,705. According to 2005 Census Bureau estimates, the population of the city is 226,013 moving Scottsdale in to the 80th position on the largest cities list. Learn more more about Scottsdale,