Health & Fitness
Mortgage Rates Continue to Set Records
30 year mortgages rates are now averaging3.53% and 15 year mortgages are averaging 2.83%.
If you haven't gotten your refinance yet, now's the time to do it. If you're thinking of borrowing money to buy a house, what more are you waiting for?
30 year mortgage rate is now 3.53%, according to Freddie Mac and reported on CNN. 12 out of the last 13 weeks have been record breaking lows for the 30 year fixed. This time last year, the 30 year mortgage rate was 4.52%.
A 15 year mortgage more your speed? The 15 year fixed rate is 2.83%, down from 3.66% this time last year.
Find out what's happening in Cranfordfor free with the latest updates from Patch.
The New York Times is reporting that this has resulted in a boom of home buyer confidence, resulting in multiple bids on many properties, driving prices up.
The National Association of Realtors published its monthly confidence index and reported that, across the country, prices and sales are increasing.
Find out what's happening in Cranfordfor free with the latest updates from Patch.
Sounds like the perfect storm to me.
Information is deemed reliable but not guaranteed. For more information, contact your local mortgage representative.
