Last Thursday, the average rate on the 30 yr fixed mortgage fell to 4.61%. That's down from 4.63% and the lowest level since mid-December.
The average rate on the 15 year fixed mortgage, a popular refinance option, slipped to 3.80% from 3.82%. That is the lowest point since late November for a 15 yr fixed mortgage rate.
Homeowners and first time buyers should consider refinancing or obtaining a mortgage before rates increase. Contact your mortgage professional to see what make sense for your situation.
Tuesday, May 24, 2011
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