By Jonathan Smoke | realtor.com
It’s here! Forgive our excitement, but we’re finally entering the thrilling, peak months of the home-buying season, which is probably our favorite time of the year. But there’s something a bit different this time around. Oddly enough, while prices continue their steady march upward, many home buyers are getting an unexpected bonus: Mortgage rates are lingering at their lowest level in three years.
As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6%, giving consumers almost 6% more buying power than they had at the end of 2015.