It’s rare when a potential home buyer comes to us and says, “I’m ready to buy because I’ve read the interest rates are so low." Usually, it’s more of a lifestyle decision (getting married, new job, having a child). But if you’re looking in the next few months, your cost to borrow money will be the cheapest it’s ever been, meaning your monthly payments will be lower because of it. Congrats, here's an average from some of the lenders we've spoken to (as of 9/30/11):
FHA 30 year fixed: 4.0%
Conventional 30 year fixed: 4.0% - 4.25%
Remember, when talking to lenders, it's all about the rate AND their fees. Do not look at these items independently.
Here's Wells Fargo's rate website.
"It is only possible to live hapily ever after on a day-to-day basis." - Margaret Bonnano
Written by Ryan Gable
Broker/CEO Starting Point Realty
Phone: 847.348.1154
Email: RyanGable@StartingPointRealty.com
http://www.startingpointrealty.com/
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