January 9, 2009 Mara Bushari

If you are a Boston homeowner considering refinancing, or a buyer interested in picking up a piece of Boston real estate, now may be the time to move forward.

According to The Wall Street Journal, mortgage rates have fallen to all-time lows fro the fourth consecutive week. The 30- year mortgage rates averaged 5.01 percent this week, which is a drop from last week’s 5.1 percent. Last year at this time, similar mortgage rates averaged 5.87 percent. This most likely occurred due in part to the Federal Reserve’s recent purchases of mortgage-backed securities issued by Freddie Mac, Fannie Mae and Ginnie Mae.

Other rates also dropped for the week:

15-year fixed rates: dropped to 4.62 percent from 4.83 percent last week. Las year at this time 15-year mortgage rates averaged 5.43 percent.

5-year hybrid adjustable-rate mortgages averaged 5.49 percent, a drop from 5.57 percent last week.

Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

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