Mortgage rates dipped slightly to a nearly three-year low because of concern about a potential global economic slowdown and some weak home sale news. According to the latest data released Thursday by.
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The Washington-based group’s seasonally adjusted measure on mortgage activity dipped 0.1% to 569.5 in the week ended Sept. 13, with loan requests for home purchases rising for a third straight week.
People who bought in the last two to three years may pocket major savings by refinancing their mortgage, while those hunting for a new home may get a bit more spending power, thanks to lower rates.
Features & Benefits Leverage your home’s equity Borrow $5,000 – $350,000 Get cash in a lump sum fixed rate for the life of the loan 5-, 10-, and 15-year terms available Repayments can be made bi-weekly or monthly
. sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall.” 30-year fixed-rate mortgage averaged 3.60% with an average 0.6 point for the.
Historically low interest rates and monthly payments are a few of the reasons that 30-year fixed mortgages are the most popular way to buy a home.
"But if you can find a fixed rate that’s lower or the same as an adjustable, even if you only plan to own the home for a short time, I can’t see why you would consider an ARM," Snyder said. At last.
Mortgage rates slipped lower over the last week, a boon to those looking to buy a home or refinance. The 30-year fixed-rate.