Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Mortgage Rates Drop to a Head-Turning Level


Added 05-30-19 01:04:02pm EST - “They haven't been this low since January 2018. Don't let a low rate slip away.” - News.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From News.yahoo.com: “Mortgage Rates Drop to a Head-Turning Level”. Below is an excerpt from the article.

They've reached that attention-grabbing level after falling for the last five weeks in a row. One reason for the steady decline is the trade battle with China. Though it has squeezed some U.S. farmers and manufacturers, the tariff tussle has helped to push mortgage rates down.

If you're in the market for a mortgage and see a rate you like, don't let it get away. Explore whether you should lock in a low rate now.

The average rate on 30-year fixed-rate mortgages has skidded to 3.99%, from 4.06% last week, says mortgage giant Freddie Mac.

Homebuyers are getting quite a bargain compared to last year at this time, when the benchmark rate was averaging 4.56%. The monthly payment on a 30-year fixed-rate mortgage at 3.99% is about $954, versus $1,013 at 4.56%.

But the drop in rates still isn't sinking in with borrowers, because mortgage applications fell 3.3% last week, reports the Mortgage Bankers Association.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE