National mortgages rates have been decreasing steadily, for the for the past five weeks, making this a great time to buy a home! The 30
year fixed mortgage rate is once again below 4% which means lending and
borrowing costs at their lowest rates for more than a year.
On October 23, 2014, the 30-year fixed mortgage rates was 3.92%, reaching a new low for the year. Today the rate is at 3.99 %. Last year at this time,, the 30-year fixed rate mortgage was about 4.19%.
The 15-year fixed rate mortgage is 3.16% compared to a year ago's rate of 3.24% percent.
Compare that to the end 1980 when national mortgage rates for 30-year fixed loans averaged at a whopping 14.79%. Even as recent as the year 2000, a 30-year fixed rate mortgage was at a high of 8.52%!
What that means for you is lower monthly payments and affordable home prices.
"Working with eXp Realty was a pleasure. When we started, we had no idea what we wanted, but our buyer agent helps us figure out the pros and cons of all our options. Our agent went the extra mile willing to put in the extra effort to answer our questions, to make sure we were happy with our decisions, and educated about the market and local area.