Just wanted to let you all know that mortgage rates are dropping again. If you need to refinance now is the time. One of my clients just refinanced for 15 years with a fixed rate of 4.75%. Check it out. You can save lots of money with a 15 year fixed rate loan.
The following is from the realtor's only page of Realtor.org. Thought you would be interested.
"According to Freddie Mac's data, mortgage rates have dropped back below 6 percent after spending more than a month above that threshold. Thanks to the Federal Reserve's aggressive moves to insulate the U.S. economy by slashing borrowing costs, 30-year fixed home loans averaged 5.87 in the latest numbers.
That compares to 6.13 percent this time last week and represents the first time since mid-February that the benchmark interest rate has been less than 6 percent.
"Slowing consumer spending and weak employment conditions are among the concerns behind the Fed's decision to lower the target federal funds rate," says Freddie Mac chief economist Frank Nothaft."
Of course I can provide the name of some trustworthy lenders too. It is still risky to use online lenders. Please use someone you are confident is competent.
Comments(1)