Interest rates go Low

Mortgage rates sank to new lows this week, so low in fact that if you were planning to buy land or a house, you might not even notice the interest. Rates on 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.8 point for the week ending July 5, down from 3.66 percent last week and 4.60 percent a year ago, Freddie Mac reported. It's as if this is the all time record low interest to cosmically balance the all time record high temperatures lately. Not bad if you get a house with central air.  The rates are lower based on fears about the global economy, which includes us. But if one must suffer through a global crisis still to come, and we all know there will be more some time, why not have a decent house at almost zero interest.  Good hunting!