Carlsbad, CA (PRWEB) March 6, 2008
The rates for a 30 year fixed rate mortgage program have risen for the third week in a row, but Direct Mortgage Pro wants buyers to know that good home loans are still available. While the 30 year fixed rate mortgage is still the most common type of home loan, there are other financing options to choose from. The interest rate rise is also expected to slow or turn the other way; what goes up must come down, after all.
The rate on a 30-year, fixed-rate mortgage program averaged 6.24 percent this week, up from 6.04 percent last week, according to Freddie Mac. Rates on 15 year mortgages, which are popular choice for refinancing, rose to 5.72 percent, up from 5.64 percent last week. Rates on the five-year adjustable-rate mortgage program rose to 5.43 percent, up from 5.37 percent last week. Rates on the one-year adjustable rate mortgage program climbed to 5.11 percent, compared to 4.98 percent last week.
Despite the slight interest rate increase, Direct Mortgage Pro wants buyers to know it is still possible to get home loans that are affordable and flexible. The slump in home sales is also leading to a sharp decrease in home prices. Direct Mortgage Pro is able to match buyers that watch the market closely and wait for the perfect time with the right lenders to make their dream a reality. It is a good time to buy a home while prices are lower than they've been in years.
For more information about the home financing options that are available, visit http://www.directmortgagepro.com
About Direct Mortgage Pro:
Direct Mortgage Pro works with each individual to determine what mortgage program and rates would be best for their unique situation. They specialize in creative financing options that allow the borrower to take control of their funds and lower their monthly payments. Direct Mortgage Pro believes that getting the best rates and terms on a mortgage should not be a stressful, time-consuming process. For home buyers that are tired of keeping track of all the lenders they've contacted and are running out of time, Direct Mortgage Pro can provide what they need, when they need it - now.
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