Looking for a Low Mortgage Rate? Be Thankful for Online Rate Tables
Source: Informa Research Services
(11/19/2010) Over
the past few months, rates have been steadily decreasing. Â However, this week,
the national average rate on 30 year fixed mortgages jumped to 4.56%, the
highest level in the past seven weeks, according to data from Informa Research
Services’ Interest
Rate Review.  Despite the increase from last week, this week’s national average is still
nearly 50 basis points lower than six months ago.
While
it’s near impossible to predict whether rates will continue to increase in the
coming weeks and months, one thing is for certain: to get the best rate,
homebuyers must shop to ensure they’re getting a competitive rate.  One of the
best ways to do this is to use online
rate tables
ERATE.com provides rate tables which gather loan information from various lenders and
assembles them on a single table for easy comparison shopping. Â For added
efficiency, you can sort the information on these tables can also be sorted by
features such as mortgage rate, points, and estimated monthly
payment.
Using
this convenient online resource, homebuyers can research rates and educate
themselves on what rates are currently being offered. Â These tables make
mortgage rate shopping so quick and easy that there should no longer be any
excuses for well-qualified homebuyers to not find the best rates
available.
