Mortgage RatesFor mortgage rates eighth straight week fall, continues to break the new record lows. 30 year fixed-rate mortgage now average well below historical lows. These average national mortgage rates reported by Freddie Mac, one of the largest holders of u.s. mortgages.Current mortgage rates are the lowest since Freddie Mac began compiling mortgage rate data 1971. in addition to the 30-year mortgage that drop, is the shorter term, 15-year mortgage rates now at the incredibly valleys.
The recent decline in mortgage rates is a compilation of several bad news when it comes to the economy, but great opportunities if you sit on the sidelines, adopt a new home purchase or refinance your current mortgage.
Real estate data providers CoreLogic, Zillow and RealtyTrac published reports on the continuing record foreclosures and short sales on the market; these figures for investors to a mortgage and real estate market recovery is still very far away. In addition, the FED announced yesterday that the economy still need their support and will continue to buy u.s. treasuries, reinvest about 15-20 billion dollars per month in mature Office and mortgage securities.
These economic indicators and Fed intervention is likely to continue to keep mortgage rates in the near.
I have spoken to many of you are still on the fence, many of your potential is the first time Home buyers. And the questions I get about the same thing:
-David, I hear all the latest news about low mortgage rates and deep discounts on accommodation, but should I buy? "
Here is a quick checklist to review with you might review it myself and see if you should require of me now.
Do you have a good job?are you paying your current bills on time?are you saving for a down payment?do you have a little extra savings?are you currently doing regular, on time rent payments?(Installments may be less)Should we speak?
This is my number: 248-724-2200. Let's get you approved with Michigan's top Mortgage lender in the customer experience.
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