The shockingly low mortgage rates we have been seeing this summer have not disappeared yet. Contact us in the sidebar to learn about the refinance programs available and if you can qualify. Here are some excerpts from a recent Bloomberg article:
U.S. mortgage rates fell to a record, extending a two-month tumble in borrowing costs for homebuyers as property demand slumps.
The average rate for a 30-year fixed mortgage dropped to 4.36 percent in the week ended today from 4.42 percent, Freddie Mac said in a statement. That was the lowest since the McLean, Virginia-based mortgage finance company began compiling the data in 1971. The average 15-year rate was 3.86 percent.
Mortgage rates have set or met a record for 10 straight weeks as concern of a faltering economic recovery spurred demand for bonds including those backed by home loans. Low borrowing costs have yet to spur home sales, which are being depressed by unemployment and the end of a federal homebuyer tax credit.
