The average 30-year mortgage rates in America continue to drop, and have hit another record low. This is the eighth record low in the past year and now is the perfect time to take advantage of buying a home.
According to mortgage buyer Freddie Mac, the average rate on the 30-year fixed mortgage dipped to 3.88 percent this week, down from the old record of 3.89 percent one week ago. These are astonishing rates, so much so that if you are indeed able to buy a home, then you would be coming away with a steal as far as rates go.
The average on the 15-year fixed mortgage ticked up to 3.17 percent from 3.16 percent, which was also a record low. Records for mortgage rates date back to the 1950s.
While the economy continues to suffer, these mortgage rates are insane, as they are so low it is almost a crime not to at least try and buy a place, as you would be taking advantage of something we may never see again once the housing market and the economy pulls itself out of the gutter.
Right now is the time to take advantage of these lower than ever rates. Let Watanabe International, Inc. take you through the process of purchasing a home from start to finish.
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[...] rates and CD rates to head higher. Learn more about Obama Mortgage Relief Plan Qualifications. For anyone considering buying a home, investing in residential properties, or refinancing their home…n. While 30 mortgage rates have fallen they are still above what we saw a few months ago when [...]