The tax credit is over, but there is still one incentive for purchasing a home now: low mortgage rates.

According to an article from Builder, mortgage rates reached a 2010 low last week, with the average for a 30-year fixed rate at 4.93 percent (down from 5 percent the previous week). The previous mortgage rate low was 4.71 percent last year, which was brought on by the Federal Reserve pushing to keep costs low for homebuyers and encourage new homebuyers to enter the market. That campaign ended this spring, but the current Grecian financial crisis is keeping rates at a modest level.

Other rates last week included 4.3 percent for a 15-year fixed-rate mortgage; 3.95 percent on a 5-year adjustable rate mortgage; and 4.02 percent for a one-year adjustable rate mortgage.

Of course, mortgage rates can fluctuate wildly on a day-to-day basis (and even throughout the day) making locking in a rate a difficult decision.

The current mortgage rate trend bodes well for customers and builders, especially coupled with the affordability of housing. There are many great Atlanta new homes, Atlanta condos and Atlanta townhomes communities to choose from, both in the city or in the metro Atlanta suburbs.

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