Mortgage rates are the most affordable in decades for those who can qualify for a loan.For many, the opportunity to buy a home or refinance at this time is lost because of the tough economy and tight credit standards. But those who have secure jobs, superior credit and strong finances could do even better than the 4.54 average rate that Freddie Mac reported Thursday, according to experts.
The latest rate is the lowest for a 30-year fixed loan since Freddie began tracking rates in 1971. It also marks the fifth time in six weeks that the mortgage company has reported hitting a new average low.
Still, it's possible to get an even lower rate if a borrower contributes more than 20 percent to the downpayment or has impeccable credit.
Full Yahoo!Finance article: http://yhoo.it/ajqMKJ
No comments:
Post a Comment