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Wednesday, July 7, 2010

30 year mortgage at record lows

Mortgage rates continue to hover at historic lows. Rates have been low for 10 years but are as low now as they have ever been. If your mortgage is more than $125,000 and your rate is higher than 5.5% or so refinance now before it's too late.

We have seen some incredible purchase deals lately with buyers closing on homes tens of thousands under appraised value.

Tax credits have been extened for buyers under contract by April 30th who have not closed.

Underwriting may even be less stringent than a year ago but you still need to have everything the lender needs or you will not be able to take advantage of this opportunity. Consult a trusted mortgage advisor today.