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  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
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Mortgage rates remain @ record lows amid fiscal cliff concerns

I keep thinking we have seen the lowest mortgage rates ever. Last week one of my clients closed on a home here in Williamsburg using a 15 year mortgage with a rate of 2.50 percent. Just yesterday I had another buyer lock in with a 2.25 % interest rate on her 15 year mortgage.

Mortgage rates remained near record lows as concerns over the “fiscal cliff” continued, according to McLean-based Freddie Mac.

The average 30-year, fixed-rate mortgage was 3.32 percent this week, up from 3.31 percent last week. The 3-year rate has been below 4 percent for all but one week in 2012. Last year at this time, the average 30-year rate was 4 percent.

The average 15-year mortgage rate was 2.64 percent this week, up from 2.63 percent last week.  Last year, the average 15-year rate was 3.3 percent.

“Mortgage rates were virtually unchanged this week amid growing concerns around the fiscal cliff,” said Frank Nothaft, chief economist at Freddie Mac. “Although low mortgage rates failed to boost new home sales in October, year-to-date sales are up 20 percent compared with 2011 volumes, and there are growing signs of a turnaround in house prices.”

Looking to buy a home in Williamsburg or Hampton Roads VA ?

I would be happy to connect you with one of our experienced mortgage experts who can discuss payments, down payments and any other questions you have.

click here to contact John by email, or call him at 757-254-8136.

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