CNN reports last week that mortgage rates have fallen to a 37 year low:
Mortgage rates fell this week, with the 30-year fixed mortgage sinking to its lowest rate in 37 years as the Federal Reserve cut interest rates to historic lows.
The article continues:
“The decline was supported by the Federal Reserve announcement on December 16th, when it cut the federal funds target to a record low and stated it stood ready to expand its purchases of mortgage-related assets as conditions warrant.”
This is great news for Asheville real estate buyers. Rich in culture, history, and beauty, the price of Asheville homes are still very attractive compared with other markets in the country, and the market in general has held up well. With some high inventories in the upper end market, the “average” buyer still has plenty to choose from at a decent market value.
Beverly-Hanks MLS search has been upgraded for easy-to-use simple and advanced searches by county, city, and other details. Try out our Asheville real estate search tool today.