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May 2, 2012

Interest Rates on Home Mortgages Remain Attractive

Category: Mortgage News,Mortgage Rate Report – admin – 7:51 am

Just when you thought home mortgage rates were finally rising.  According to a recent lender survey, 2012 has been quite a year for shattering interest rates. Yesterday, the leading the rate measuring stick online, HSH.com, said the average rate for fixed-rate thirty-year home loans eased by two basis points last week and at 4.125%. Today’s rates now stand just a hair below the record low. The fifteen-year mortgage rates dipped ever so slightly to 3.125%.

Home Mortgage Rates Won’t Stay This Low Forever

Borrowers seeking adjustable rate mortgage refinancing has cooled a bit, but the pool of homeowners who have variable interest rates has narrowed significantly in recent years. The rate for a 5/1 ARM loan is 2.45%, down from 2.5%. The current FHA mortgage rates have not moved, so first time home buyers and homeowners that have loans insured by the FHA will have opportunities to lower housing costs with rates available 3.875%.

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