by Laura Matiz
The most recent report (February 11. 2016) from Freddie Mac's Primary Mortgage Market Survey shows 30-year-fixed mortgage rates hitting 3.65%, near the 2015 low of 3.59%. Experts expect the rate to continue south, but whether we approach the 2012 historical lows (3.3%) is to be seen.
The lower cost of financing homes along with an improving labor market will offset home price increases expected this spring. Assuming global instability doesn't turn for the worse, I expect a robust spring in the Manhattan and Brooklyn apartment sales, especially in the $1M-5M market.
The best way to shop for a mortgage loan is via a mortgage banker. Please contact me if you need a referral.
Related market outlook reports from Freddie Mac: