Mortgage rates have dropped for the 5th straight week, to a national average of 6.15 percent. This was down from 6.21 percent the week prior. Recent economic news points to low inflation in the near-term which is causing the bond market to act favorably.

Because of this, the mortgage market has reacted and lowered rates, which is good news for home buyers right now in the Lee County Florida real estate market looking to purchase a home.

Lower borrowing costs help offset some of the higher housing prices we’ve seen the last few years, and it’s all about affordability. While we have no shortage of people who can afford to live here, it’s nice for the home buyers who are on the fence and barely able to afford to buy. Those are the people that really need the help, and lower borrowing caosts help them the most. It would be adviseable for anyone one the fence to purchase now before both mortgage costs and prices get out of reach.