Thursday, October 28, 2010

Check with your lender

Talk with your lender and see if you can qualify for a home loan.  This is the best time to buy in nearly 20 years.  Rates will not be this low forever.


30-Year Mortgage Rates Plumb New Depths
Freddie Mac reports that the average interest on 30-year fixed mortgages slipped to an all-time low, for the third consecutive week, to 4.19 percent.

At the same time, 15-year fixed-rate loans and the five-year adjustable-mortgage rate both also hit record lows. Rates on the former were 3.62 percent, while the latter averaged just 3.47 percent.

Source: The Wall Street Journal, Nathan Becker (10/15/10)