Aug. 8, 2019
Yes! Rates are now incredibly favorable for home purchase!
The average rate on the popular 30-year fixed mortgage hit 3.70%, the lowest since November 2016, according to Mortgage News Daily. Low Rates like this won't be around for long. Now is the time for your Home Purchase!
The average rate on the popular 30-year fixed mortgage hit 3.70% on Friday, the lowest since November 2016, according to Mortgage News Daily. That rate will likely dip even lower Monday, as bond yields continue to fall.
Mortgage rates sink to 3-year low
The Fed’s key short-term rate affects 30-year mortgages – the most common purchase home loan – and other long-term rates. The average rate has dropped to 3.75% from 4.5% a year ago, according to Freddie Mac.
Lower rates have also increased the buying power for prospective homebuyers looking to purchase the average-priced home by the equivalent of 15%, meaning that they could effectively buy $45,000 ‘more house’ while still keeping their payments the same as they would have been last fall.
Many financial institutes are offering NO CLOSING COST and NO FEES. Including the appraisal, all title fees and every other fee associated with your loan. These fees are not even added to your loan balance. They pay them for you.
ACT NOW BEFORE RATES GO UP!!
Call, email or text me for more information and if you have any questions.
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