Interest rates on mortgages remain stable in April 2010. Good news for buyers of Salt Lake City homes and condos!

At the end of March 2010, the Federal Reserve ended their policy of buying mortgage backed securities to keep mortgage rates low.  I blogged about this on  March 29, 2010.  So far, this change in policy doesn’t appear to have affected interest rates.  Rates are still in the low 5% range for a 30 year fixed rate mortgage which is about where they were in March.

If interest rates start to climb, that would decrease the buying power for buyers of Salt Lake City homes and condos.  Let’s hope these low rates continue!

Kevin Coyle
Associate Broker, GRI, MBA
801-243-0699 (Mobile)
Stonebrook Real Estate


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