(PRWEB) September 15, 2012
Average US rates on fixed mortgages held steady on 3.55 percent this week, slightly above the record lows reached this year on July 26, according to the latest primary mortgage market survey from Freddie Mac.
The report said that the 30-year fixed mortgage rate fell to 3.55% for the week of Sep 6th and held steady this week, down from 4 basis points from last week and lightly above the record low of 3.49% for the week of July 26th. The average rate on 15-year fixed mortgage dropped to 2.85% after dropping 1 basis point last week.
Considering the record low of the mortgage interest rate, potential home buyers are urged to get their own new house. Professionals at Mortgage Hands suggested that although it is the perfect time to refinance loans, it is important for the home shoppers to get a good understanding of today’s limitation and rules about mortgage industry.
To better meet the needs of American homebuyers’ needs for refinancing or a new property, Mortgage Hands recently launched a simple three-step process to help buyers get the best mortgage loan options with the lowest possible rate.
Search for the Available Government Programs
Today, the government is providing billions of dollars in stimulus money to promote the growth of the housing market. These funds are available in various local and federal programs and incentive programs. Mortgage Hands looks into the government programs that can save a large amount of money for homebuyers. These programs can offer better terms, reduced closing fees or lower rates.
Find out the Lowest Mortgage Rates
The next step of Mortgage Hands three-step customized process is to find out the best rate possible for clients. Mortgage Hands works with local mortgage companies and brokers who assent to eliminate the cost of appraisal fees. These companies have promised that they will never add points to raise commission fees on the mortgage loan.
Lower Closing Fees for up to 30%
Mortgage Hands partners with local title companies that agree to take off several unnecessary fees, saving the clients up to 30% on closing fees. Personal mortgage specialists from Mortgage Hands are able to ensure that the clients get the best mortgage solution with the lowest closing fees in a seamless and simple manner. Of course, the clients can also choose to work with a title company outside of Mortgage Hands’ partners, a list of fees that other title companies could possibly reduce or eliminate will also be provided by Mortgage Hands.
With the record low mortgage rate today, buying a property or refinancing is great. Most people will get a good mortgage company or broker to help find the best mortgage available. It is no doubt that this is a wise decision. However, homebuyers should never blindly follow the options the mortgage company provides, and never leave all mortgage issues to the brokers. To avoid some unnecessary fees and charges on home buying or unnecessary troubles on the documents, home buyers should learn more about the mortgage industry and personally get a good understanding of every step in the entire mortgage process.