Money.CNN is reporting on some very big mortgage rate news. In a video report titled, “Will You Ever See Mortgage Rates This Low Again” the host in this brief news segment talks about 3.59 percent rates for a 30 year mortgage and 2.88 percent for 15 year loans.
The subtitle beneath the video reports says, “If you’re looking to buy a home this spring, you’re [sic] timing couldn’t be better. Mortgage rates are hitting their lowest levels in years.”
The news reports ends with this important thought. “You might not see rates this low again….in your life time.”
No one knows for sure what mortgage interest rates will be in the future. The over-all sentiment is that when the Feds meet again in June that if there is an increase in rates it should not be substantial. But keep in mind, even a variance of just a few basis points can affect your monthly payment, cost you thousands of dollars over the term of loan or could quite possibly be a determining factor on whether or not you can qualify for a loan. In terms of mortgage lending rates-Now is a great time to buy!
Click on the link below to watch the brief video news report by Money.CNN titled, “Will You Ever See Mortgage Rates This Low Again”.
Margaret Hitchcock of Hitchcock Realty is a Realtor and seasoned real estate professional. Margaret has worked with mortgage lenders her entire career and will be happy to answer questions and supply you with a list of lenders that can assist you in getting a loan. Contact Margaret at (252) 269-2893.