Home loans are still quite a bargain.
The average cost of 30-year, fixed-rate mortgages, the most popular way to finance a home, up less than a quarter of a point since reaching a record low in early December.
The average cost of a 15-year mortgage, which is very popular with borrowers looking to refinance a home, is back below 3%.
It looks like long-term interest rates are bouncing along what could be a long and profitable bottom for home buyers and owners.
We can probably count on cheap home loans as long as the Federal Reserve is determined to hold borrowing costs at historic lows until our lethargic economy is growing faster and creating more jobs.
The only question is whether the Fed's rate-setting committee is wavering on that commitment — a concern raised by the minutes of its most recent meeting.
Call Agent Brian Force today to take advantage of this record breaking opportunity! 817-657-6213
Originally posted by Mike Sante - http://www.interest.com/mortgage/news/mortgage-rates/
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