The second week of May marked the second straight week that mortgage rates have reached new record lows, according to a recent LA Times new report.
Freddie Mac told the LA Times that the average for a 30-year, fixed loan fell to 3.84 percent and the 15-year, fixed rate loan dropped to 3.05 percent. Adjustable loans with an initial five-year fixed rate also dipped down to 2.81 percent.
And according to a Boston Business Journal report which can be viewed on Yahoo! News, this may be one of the contributing factors to the latest evidence that is pointing towards an increase in high-end home sales in certain regions of the country. Lisa Van Der Pool reported in the news segment that that so far this year, luxury home sales are up about 27 percent while single family home sales are only up by about 19 percent.
Whether you are looking to lock in record-low interest rates with the purchase of a high-end home or you are looking to sell your own luxury estate, Hurwitz James Company has luxury listings worldwide as well as the luxury housing market expertise to meet your real estate needs. Contact Hurwitz James Company in Beverley Hills by calling 888-681-5902.