Mortgage rates are at their lowest point in more than 2 years. The 30 year fixed rate average fell to 5.5% while the 15 year fixed rate declined to 5.06%.This is an ideal time to refinance if you have an adjustable rate loan or a fixed rate loan with a higher interest rate. Its also a great time to buy a new home, investment property, or second home.
Real estate values are depressed so it is likely that you can buy a home for less money today than it would have cost you last year. Combine that with a low interest rate and you are in position to get a really good deal on the purchase of a home.
If you are interested in refinancing or purchasing a home, send me an email at c_lusby@kw.com and I can refer you to a phenomenal mortgage consultant.
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