Today’s low rates are terrific for both home buyers throughout Louisiana and existing homeowners looking to refinance. As compared last year at this time, mortgage rates are down by 98 basis points — nearly one full percentage point.
Mortgage payments are much lower today as compared to July 2011 :
- July 2011 : $512.64 principal + interest per $100,000 borrowed
- July 2012 : $455.77 principal + interest per $100,000 borrowed
Today’s rates yield an 11 percent payment discount as compared to last year.
Mortgage rates are unpredictable so there’s no guarantee that low rates will last forever, much less through the summer. If today’s rates meet your household budget, consider locking something in.
Comments(0)