Posted by: jeb1 | December 22, 2009

Louisiana Home Builders Association: Interest Rates at All-Time Low

The average interest rate for a 30-year mortgage dropped to a record low of 4.71% in early December, pushed down by an aggressive government campaign to reduce borrowing costs. The rate was the lowest since Freddie Mac, one of the nation’s biggest buyers of home mortgages, began tracking the data in 1971. The previous record of 4.78% was set during the week ending April 30. Thanks to low interest rates and the recently expanded homebuyer tax credit program, many families may be able to start the new year in a new home!

Informational materials on tax credits available online
With the enactment of the extended and expanded tax credit on Nov. 6, the National Home Builders Association has created a full set of resources to help HBA members and consumers understand and get the word out about the new tax credits. The resources are available online at and include a fact sheet, talking points, consumer handout, print advertisements, a YouTube video featuring Chief Economist David Crowe, and more.

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