If you are in the market for a new home, there has probably not been a better time to buy in years. It’s such a buyers market that Toll Brothers, one of the biggest home builders in the country, is offering 3.99%, 30 year fixed rate mortgages if you buy before this Sunday. Given that they lost nearly $300 million last year, if this promotion works, I wouldn’t be surprised to see it extended.
While they don’t have any property in Arkansas, if these houses start moving for them, expect to see similar deals around the country.
The average nationwide rate this week is 4.96% for a 30 year fixed, but there is not a lot of evidence of increased sales. Our title insurance company has noted a sharp uptick in refinancing this month, though.