Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 11/7/2011

Mortgage rates have been at all time lows but if you haven't taken the plunge it may now be time to refinance. This week the average rate on the 30-year fixed mortgage fell to 4 percent. Just a few weeks ago the lowest rate ever was 3.94 percent, according to the National Bureau of Economic Research. The average rate on the 15-year fixed mortgage fell to 3.31 percent from 3.38 percent. Four weeks ago, it too hit a record low of 3.26 percent. Rates are dropping in reaction to the financial turmoil in Europe and homeowners with rates over 5% should may want to research refinancing. You can check out daily mortgage rates here. Make sure to consult with a mortgage professional who can evaluate your personal situation.




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