Janis Paul http://www.calljanispaul.com/blog/ Janis Paul http://www.calljanispaul.com/blog/ http://www.calljanispaul.com/core/files/images/logo_rss.jpg en-us Sun, 20 May 2012 00:08:37 -0600 If youre in the market for a mortgage, you could be in for a very low rate. http://www.calljanispaul.com/blog/if_youre_in_the_market_for_a_mortgage_you_could_be_in_for_a_very_low_rate/ Wed, 24 Aug 2011 00:00:00 -0600 According to Freddie Mac’s weekly survey, rates on 15-year fixed-rate mortgages as well as 5- and 1-year adjustable-rate mortgages hit record lows this week. The 30-year fixed-rate mortgage hit its lowest level for 2011.

For homeowners interested in refinancing, the problem is — and has been for awhile — that while mortgage rates are extremely low, both the borrower and the property must qualify. And with many homes losing value in recent years, qualifying for the best rates has become a challenge for homeowners in most parts of the country.

Low mortgage rates are making homes more affordable. The National Association of Realtors’ affordability index indicates that over the past three quarters, homes have been more affordable than any other time since the group began keeping the index in 1970, Nothaft said.

According to a separate survey released by Bankrate.com on Thursday, 30-year fixed-rate mortgages averaged 4.46% and 15-year fixed-rate mortgages averaged 3.61%. Seven-year ARMs averaged 3.45% this week, while the 10-year ARM averaged 3.93%, according to Bankrate.

 

Amy Hoak, Real Estate writer

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