Mortgage rates plunged yesterday. Many local lenders offered 30 year fixed rate loans for 3.875%. Fifteen year fixed rate loans dipped to 3.25%.
It's a great time to contact your lender if you've been thinking of locking in or refinancing. It's also a time of opportunity for home buyers. Buyers tend to gain more leverage in the Fall and Winter seasons. Combined with these historically low rates, the cost of ownership is the lowest it's been in a long, long time.
Here's our latest report on the mortgage market. (Keep in mind today's local rates will likely be lower than the rates quoted in this report).
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com