record low rates: Record Low Rates Difficult To Get With Tight Underwriting
- 08/18/12 12:48 AM
Record Low Rates Difficult To Get With Tight Underwriting The average rate for a 30-year fixed rate mortgage hit all-time record lows last month with rates being reported as low as 3.49 percent, more than a full point below the 4.55 percent average from a year ago at this time. While the historic rate means great things for affordability, it also appears to be historically difficult to qualify for these record low rates. Record rates are a boon to buyers. The monthly payment on a $200,000 mortgage at the rate reported last month translates into a monthly principle and interest … (3 comments)
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