I have always beleived that buying is better than renting. After all, Renting is paying off someone elses mortgage not your own. With Interest rates at an all time low, and inventory at an all time high; It just makes sense to me.
Of course this is not the entire picture, as everyone needs to decide for themsleves.
Mortgage Rates Drop to Record Low:
30 year fixed mortgage rates dropped to their lowest levels in 39 years according to a new survey released by Freddie Mac, the second largest mortgage finance company.
Interest rates on 15 year fixed rates and hybrid adjustable rate mortgage rates reached fresh lows as well. While record low rates and high housing affordability helped the housing market gain ground over the last year, the sector is struggling since the popular home buyer tax credit expired on April 30th.
According to a Freddie Mac survey, the average 30 year fixed rate for conventional (non-FHA and VA) mortgages averaged 4.69 percent for the week ended June 24th and is the lowest since Freddie Mac started the survey in April 1971. Still, Freddie Mac's data is at least a week old before they publish it and it has been another week since then. 15 year rates are below 4%. Rates do vary depending on credit, debt ratios, down payment, area of the country, property type, points paid and many more factors.
Please call now to see if refinancing is right for you.
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