Monday, June 11, 2012

Record lows in mortgage rates

Have you been watching mortgage rates Los Angeles? Freddie Mac reported this past week that average U.S. mortgage rates are at an all-time low. This data came in from a survey including 15-year and 30-year fixed mortgages. 
The average rate on 30-year mortgages dropped to an astounding 3.67 percent! This is a big change from last week's 3.75 percent rate. The 15-year mortgage is also at a record low of 2.94 percent. 
There has truly never been a better time to buy or refinance. The prediction from the experts is that these cheap mortgages will boost home sales by making buying and refinancing more desirable. This may be good news for the economy, but of course, it also means that these rates are likely to change for the worse as far as buyers are concerned. We are currently in the time for wise buying and refinancing, so if you have been considering buying or refinancing, now is the time to act.

No comments:

Post a Comment