The average interest on a 30-year fixed mortgage dipped to a new record low of 4.57 percent this week — down from 4.58 percent a week ago, according to Freddie Mac, which began tracking rates in 1971.

Still, the low rates may not provide much of a boost for the housing market because many people do not qualify for new mortgages or have already obtained loans at low rates this year.

Source: Indianapolis Star (07/09/10)

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Andy Zeal is a Realtor® at HomeSmart International Real Estate and The WORTH Group in Scottsdale, Arizona and author of the real estate blog AZintheValley.
For additional information regarding the Arizona real estate market  call 480-540-2291 or visit www.LuxuryintheValley.com

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