Mortgage Rates Have Dropped
If you have been on the fence about whether now is the right time to buy a new home, here's the best reason yet to hop off: your dream home just became more affordable. That's because the federal government has now take steps that caused interest rates to drop considerably. For example a $250,000 30-year fixed rate loan could save you as much as $220 a month now versus just one month ago*.
Or if you are still happy where you are, you can get help refinancing your current mortgage or home equity line of credit at a fixed rate.
* From 11/24/08 - 12/18/08interest rates for a 30-year fixed rate mortgage dropped from 6.25% to 5.25% hence the $220 a month savings. Rates are subject to change.
