According to CNNMoney, 30-year mortgage rates are at their all time low since 1971. The most commonly used loan is a 30-year fixed-rate mortgage- which is now only 4.4%. It is incredibly rare for a 30-year mortgage rate to be below 5% when just a year ago it was 5.29%. Not only has the 30-year mortgage rate declined, but a 15-year fixed-rate along with adjustable mortgage rates has also fallen. A 15-year fixed-rate has been surveyed to be lower than it’s been since the survey began in 1991—at 3.92%.

These record low rates make now a perfect time to purchase a home. Low mortgage rates make for an undeniably positive position for those who are ready to buy a home.

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Categorised in: Houston Real Estate, Sandcastle News

This post was written by Sandcastle Homes