Mortgage rates drop even further this week
Source: Informa Research Services
(1/20/2012) Rates were already low to start the year, and this week, they continued their downward trend for the third week this year. Â According to Informa Research Services, the national average rate for traditional 30 year fixed rate mortgages dropped to just 4.13% this week. Â For those in the market to purchase or refinance a current home loan, these low rates present a great opportunity to save money on homeownership.
While mortgages near the 5% mark used to be considered low, in the current market, many rates below that can be found.  The best place to start your mortgage rate search is online.  Free resources such as ERATE.com can help you locate some of the best rates in the nation.  Using simply your state and estimated loan amount, ERATE’s rate comparison tables make rate shopping a breeze!
In addition to simply listing some of the best rates in the country, ERATE.com’s rate tables are also functional tools for sorting your results and even making sure your monthly mortgage obligations will be manageable.  Using the loan amount you provide, these tables will generate estimated monthly mortgage payments based on each rate, which may be helpful in determining which choice would truly be the best fit for your finances.
