Home mortgage rates are trending downwards and presenting homeowners with an opportunity. Freddie Mac says rates are at their lowest levels since 2004 (from MarketWatch):
SAN FRANCISCO (MarketWatch) — Freddie Mac said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said.
This may be a good time to get a mortgage evaluation. It would be worthwhile to sit down with a lender and see if there is an oppportunity to take advantage of lower rates through a refinance.
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on Dec 11th, 2008 at 12:22 pm
IT’s great to have this kind of opportunity. It’s good to know as much as you can about what’s available.