Did You Know PA Mortgage Rates are Among the Lowest?

There are a lot of exciting things going on out there in the housing market right now. If you are on the fence it is a great time to buy.  So lets review some of the reasons for buyers to buy now:

1)Â One there is a lot of inventory to choose from.

2)Â Rates are still very low and Pennsylvania has some of the lowest rates right now* (see below).

3)Â The new First-Time Home Buyer tax credit.

Now is an exciting time for first-time home buyers. This is a unique point in time to have all these things lined up.

Remember, you have until November 30, 2009 to take advantage of this First-time Home Buyer Credit. Don’t wait until the last minute.

* “Pennsylvania tied with Florida for the lowest average rate for the week ended Feb. 22, at 5.04 percent. That’s down from 5.18 percent for the week prior, a decrease of 2.7 percent.

For the week ended Feb. 22, the average 30-year rate nationally was 5.25 percent, up from 5.23 percent the week prior, according to the Zillow Mortgage Rate Monitor.

By Monday night, the average rate on Zillow’s Mortgage Marketplace dropped again, to 5.14 percent.” –Pittsburgh Business Times.

Read more about Pennsylvania Mortgage Rates from the Pittsburgh Business Times.

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