Mortgage Rates Stay at Record Lows
With the volatility of the stock market and concern over both the U.S. and European economy, we have seen mortgage rates consistently dropping throughout the month. And this week, fixed mortgage rates continued to fall to record lows. Freddie Mac stated that the average rate for the 30-year-fixed mortgage fell to 4.05% from 4.13%. In addition, 15-year fixed mortgage, a very popular refinancing option, fell to a record low of 3.33%.
This is excellent news if you’re looking to purchase a home or have been thinking about refinancing. There has been a boom of refinances throughout the entire mortgage industry as others try to take advantage of these extremely low rates and get adjusted mortgages.
So jump on these low rates now before it’s too late!