According to an article in the Los Angeles Times, Octoer 2, 2009 interest rates are near the all-time low (for rates tracked by Freddie Mac), if you have a solid credit rating and are able to put 20% dow. 30-year fixed rates last week were 4.94% with 0.7% upfront for points and fees.  A POINT is equal to 1% of the loan, so 1 point on a $300,000 loan will cost the borrower $3000.

The lowest rate recorded by Freddie Mac was 4.78 with fees and points at 0.7%, recorded in April of 2009.  By comparison, the same loan was 6% one year ago.

If you situation allows you to use a 15 year loan, rates were at 4.36% with 0.6% points, an all time loan.

Feel free to contact me for additional information or with any questions.  To accurately access your ability to ourchase a home, contact your preferred lender and ask to be pre-qualified.