Knox County Mortgage Rates Decline

Freddie Mac's Primary Mortgage Market Survey reported a decline in mortgage interest rates this past week The first drop in rates in the past five weeks. Rates on a 30-year fixed-rate mortgage averaged 6.69 percent, down from last week's 6.71 percent.

A drop in interest rates is always good news for Knox County home buyers, but it is especially good news during the spring/summer selling season when inventories are at their highest levels of the year and when the majority of buyers are looking to buy.

Thinking of buying a home? You can get a daily list of Knox County homes for sale as they hit the market. Simply, click here!

Interest Rates Drop For Knox County Home Buyers

Positive inflation news resulted in a drop in interest rates this week according to Freddie Mac's Primary Mortgage Market Survey. Interest rates this week for a 30-year fixed-rate mortgage averaged 6.17 percent, compared to last week's 6.22 percent. This is the first drop in rates in the last six weeks.

A drop in interest rates is always good news, but it is the icing on the cake when it happens during the spring buying/selling season when inventory is at its peak. Spring is when buyers have the most homes to choose from and now have great rates as a bonus.

Are you thinking of buying Knox County real estate? Visit KnoxCountyMLS.com to have new listings emailed to you as they hit the market. It's fast, easy and hassle-free.