According to Informa Research Services weekly rate survey, the national average rate on a 30-year conforming mortgage fell for the third week in a row. Rates have been on a steady decline since the end of December, and this week, they continued that trend falling to 5.19%.
Low rates, low home prices, and Fannie Mae financing opportunities make this an ideal time to purchase a home. The easiest way to find the lowest rates is to consult an online resource, such as ERATE.com. Many lenders featured on ERATE’s rate tables offer mortgage rates well below the national average. For instance, the highest rate AimLoan.com is offering on their 30-year fixed mortgage today is 4.875% (at 0 points). This rate can dip as low as 4.500% when paying points.
Since it’s near impossible to predict where rates are heading in the future, the best way to ensure you get a low rate is to check rate tables regularly. This way, you will always be aware of what constitutes a great mortgage rate!
Fannie Mae & Jumbo Mortgage Rates Just One Click!= Current Rate Chart
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