Mortgage Rates Drop Again to a Low of 4.4%
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Lock in a Low Mortgage Rate Today!
It's time to lock in a great mortgage rate when looking for homes for sale in Saratoga Springs.
Freddic Mac announced this morning, Thursday August 12, 2010, the average 30 year fixed mortgage rate hit 4.44%. On a 15 year fix mortgage rates are as low as 3.95%. Mortgage rates on a 5 1/2 adjustable also dropped this week to 3.49%.
Low mortgage rates have done little with the housing market as it continues to remain stable. Investors fear rebound is stalling and it could slip back into a recession. Investors seem to be shifting from stocks and going with treasury bonds.
According to Bob Walters, a chief economist with Quicken Loans, "The silver lining to a bad economy is that interest rates fall". "If you lower your debt burden by refinancing, thats great!"
Overall, this week loan applications rose .6% from the previous week. It appears mortgage rates will not go any lower than 4%, so right now it is a great time to look for homes for sale.For the homeowners in which have solid finances, it is a great time to refinance.
Freddic Mac says one third of their customers have chosen to refinance on 30 year loan picking up a 20 to 15 year fixed loan. More homeowners are choosing this option because it allows them to save more in the long run. However it does cost more in monthly payments. Just remember the saying every day is different. It could be low one day and high the next. There is no guarantee mortgage rates will continue to remain this low.
Try not to miss out on this opportunity.
Mortgage Rates Drop Again to a Low 4.4%. Its Time to Lock In!
Search Homes For Sale in Saratoga Springs
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