https://mscoastrealty.com/mortgageslenders/dipping-mortgage-rates/ Real Estate Information and Investments on the Mississippi Coast Sun, 07 Sep 2014 12:13:54 +0000 hourly 1 https://wordpress.org/?v=4.6.28 https://mscoastrealty.com/mortgageslenders/dipping-mortgage-rates/comment-page-1/#comment-1989 Tue, 29 Nov 2011 15:23:25 +0000 http://mscoastrealty.com/?p=1293#comment-1989 […] Mortgage rates going so low have had a twofold effect. It has certainly played up a benefit for potential buyers but it hasn’t done too much to drive people into the buying market and away from the rental scene. One positive in this area of the country is the fact that record low mortgage rates are combining with continually rising rental rates. This has an effect on those potential first time buyers who are on the fence, deciding whether to keep renting an apartment or look into purchasing their first home. A good example of this peaking interest is in major cities such as Biloxi and New Orleans. In Biloxi, the average rental rate is between $650 and $750 these days. With the 30 year fixed rate mortgage at 4.078 percent in the area, prospective buyers may choose to stay away from rising rates. New Orleans apartments are sitting between $750 and $900, as 30 year fixed rate mortgages in the area sit at 4.312 percent.Source: mscoastrealty.com […]

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