30-year mortgage rate falls to record low 3.94 percent
October 6, 2011
If you are in the market to buy a new home in the near future, or even need to refinance your home. The time is now.
The Associated Press reported: The average rate on the 30-year fixed mortgage fell to 3.94 percent this week, the lowest rate ever. For those who can qualify, it’s an extraordinary opportunity to buy or refinance
In addition to the 30-year fixed mortgage rate, the average rate on a 15-year fixed loan dropped to a record low of 3.26 percent.
These record low mortgage rates make this an ideal time to purchase or refinance your home. If you need to refinance your home and get a lower rate, you pay less interest on your loan and in turn will have more money to spend.
For those who have been unsure about purchasing a home, this could be the vital factor to relieve any uncertainty.
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This post was written by Sandcastle Homes