Now would be an awesome time for a 30-year fixed-rate mortgage...

If you are interested in buying a home, then you're in luck.  For the fourth week in a row, the interest rates on a 30-year fixed loan has decreased now from 3.79% to 3.78%.  this may not seem like a huge drop, but if you're in Red's AP Macro class, you would know that interest rates are just as important as the money in the bank.  For example, this time last year, the interest rates on said loans were a staggering 4.60%.  this is saving borrowers around $48 dollars per $100,000 loaned.  To put this into perspective, over a 30 year period, this saves borrows a whopping $17,217 compared to last year!  The demand of houses in the industry are sure to rise, according to Frank Nothaft.  "Mortgage rates were virtually unchanged this week with fixed-rate loans remaining at record lows and helping to drive homebuyer affordability", he states in the article.  What will this mean for home buyers?  I guess more availability to buy their American dream house.