The Federal Reserve cut a key interest rate by a quarter point for the second time in only six weeks. The real estate market, slowing economy, and inflation concerns may equal another rate cut in the coming months. Great Port Orange home deals are available for buyers in this market combined with great mortgage rates. I’m currently working with a buyer that secured a 30 year fixed mortgage rate for his Daytona Beach condo. He just locked in his rate at 5.875%. Can you believe it?
Estimated Port Orange Mortgage Rates:
- 30 year fixed mortgage rates averaged 6.21
- 15 year fixed rate mortgages average 5.91 percent
- 5 year adjustable rate mortgages average 5.98 percent
- 1 year arms average 5.57 percent
For more Port Orange home and mortgage information, contact Kevin Kling 386-527-8577.