Economic Uncertainty Pushes Rates Lower
Mortgage interest rates are at their lowest level in seven months.
In the latest reading of housing market data from Freddie Mac , the average interest rate on a 30-year mortgage continued to fall well below four percent at of the beginning of June.
Economists believe that pervasive economic uncertainty among businesses and consumers may be to blame. At 3.89 percent, mortgage interest rates are at their lowest level in seven months.
On the bright side, this presents a surprising opportunity for many consumers, especially those searching for a new home. Recent data is also keeping commercial and business loan interest rates within reasonable levels.