Homebuyers today can potentially save several times more money in interest costs than buyers who took out a mortgage in early April and claimed an $8,000 homebuyer tax credit. Someone taking out a $240,000 mortgage today at a 4.42% (and right now they're at 4.25%) interest rate could save $33,287 in interest costs over the life of a 30-year loan. That's four times the $8,000 credit used by a first-time homebuyer who financed at 5.21% in early April.
Read full article
Showing posts with label denver homes. Show all posts
Showing posts with label denver homes. Show all posts
Wednesday, August 25, 2010
Friday, August 13, 2010
30-year mortgage rates hit another low: 4.44%
USA Today reported that mortgage rates sank to the lowest level in decades this week, pushed down by the Federal Reserve's move to buy up government debt to help lift the economic recovery.
Mortgage buyer Freddie Mac said Thursday that the average rate for 30-year fixed loans this week was 4.44%, down from 4.49% last week. That's the lowest since Freddie Mac began tracking rates in 1971.
AID: Feds rethink policies that encourage home ownership
The average rate on the 15-year fixed loan dropped to 3.92% from 3.95%, also the lowest on record.
Rates have fallen since spring as investors sought the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.
Subscribe to:
Posts (Atom)