Written Aug. 30, 3010
As of August 26, 2010, mortgage rates are hovering around 4 Percent on 30 and 15 year fixed rates. For those
considering purchasing or refinancing, a fixed rate locked in at this level is quite possibly a once in a lifetime
opportunity. Rates have never been this low.
Beginning in the Fall of 2008, the U.S. economy began seeing sharp declines in housing prices after decades of
continually increasing values. Government attempts to intervene prevented a return to 'Crash-level' economic numbers,
but largely failed. A drop in the demand for housing magnified the market's trends downward.
Many people believe this is the best time to enter the housing market, hoping that the floor on values has been reached, or is
very near. The chart below shows what the interest trend has been for the last three years.
Click Image to Enlarge
Note: Chart assumes points of 0.4 - 0.7%, according to Freddie Mac.
But Does It Make Sense?
Without a doubt, if the numbers make sense, refinancing
to a 4% rate is a good idea. We are saving people hundreds of dollars on their monthly payments and even more over
the long term. For those purchasing a home, we suggest speaking with one of our Home Loan Specialists and getting preapproved quickly.
Home values are very low compared to three years ago, and the combination of rock bottom prices
combined with the lowest interest rates in history create an enormous buying opportunity.
Whether purchasing or refinancing, Churchill Mortgage wants to help you make an informed decision that makes sense for your
situation.
- Get Started with Churchill Mortgage
- Would you like to Apply Now by filling out our loan information form?
- Would you like to discuss your loan options by phone?
Give us a call at 1-888-562-6200
- Or let us know the best time to Call You Back, and one of our Loan Specialists will contact you as requested.
