As temperatures dip, so do mortgage rates
Source: Informa Research Services
(11/11/2011) With less than two weeks until Thanksgiving and Christmas just around the corner, many consumers are hustling to get all their holiday shopping done.  And as we count down the days until our favorite winter holidays, both temperatures and mortgage rates across the country took a little dip this week.  While shopping for the perfect gift for your loved ones, don’t forget to take a moment to shop for a low mortgage rate!
According to Informa Research Services, the national average rate on a traditional 30 year fixed rate mortgage slipped to just 4.23% this week. Â While this figure is impressively low, it is still just an average, which means that there are many rates available both higher and lower than this figure. Â To find those lenders who are offering rates below this already low average, check online rate tables such as those found on ERATE.com. Â In addition to being free and convenient, these tables frequently feature lenders who offer rates well below the national average.
If your current home loan has a significantly higher rate attached to it, refinancing to a low rate such as those currently being offered right now can save you over $1,000 annually. Â Checking online rate tables regularly is also an efficient way to stay abreast of the most current rates being offered.
Using these rate tables is incredibly easy and simple.  Without entering any personal information, you only need an estimated loan amount and zip code to find some of the nation’s best mortgage rates just a click away.  Once you’ve narrowed down your search, the tables also offer a direct link to each lender’s website.  Thus, if you have more questions about the loan or would like to start the application process, you can contact the lender directly.
