Mortage Rates Drop for Third Week in a Row

Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 6.62% with an average 0.4 point for the week ending July 3, 2007, down from the previous week when it averaged 6.67%. Last year at this time, the 30-year FRM averaged 6.79%. With the Nashville real estate market turning from a seller's market to a buyer's market, this might be the perfect time to buy.

The 15-year FRM on Friday averaged 6.30% with an average 0.4 point, down from the prior week when it averaged 6.34%. A year ago, the 15-year FRM averaged 6.44%.

If you believe that mortgage rates still have room to drop, you may want to consider a rental home in Nashville. The HummerHomes Team operates Nashville's only property management firm and we are committed to helping our clients find the best housing possible.