MLS Activity Report through August, 2008

Mortgage Rates Drop and activity picks up...

Mortgage companies around DFW are reporting an uptick in consumers looking to take advantage of interest rates that have dipped just below 6%. If you are in the market to buy, the combination of many distress sales in the marketplace and interest rates this low provide a great opportunity. Please give us a call if we can help at (817) 635-1150 or search every home at www.tarrancountylistings.com.

Updated Market Data for Arlington, Texas

Mortgage Rates Have Dropped

Mortgage rates have dipped in the past few weeks to an average low of 6.21% for a 30-year fixed mortgage. The current average rate for a 15-year fixed mortgage is even lower at 5.80%, while the rate for a 5/1 adjustable rate mortgage is 5.69%. Compared to the middle of last month, when the rate for a 30-year fixed was around 6.41%, this lower rate means a savings of $31 each month, or $375 each year, in monthly payments on a $240,000 mortgage.