Low Mortgage Rates Make Home Ownership Affordable

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The Federal Savings Bank highlights that decade-low mortgage rates are making home ownership very affordable.

VA and FHA home loans at The Federal Savings Bank

The Federal Savings Bank

The 30 year fixed rate remains listed below 4% as the Mortgage Bankers Association (MBA) showed a decline of 7 basis points from February 27th to March 6th

Low mortgage rates are making buying a home very affordable. The Federal Savings Bank encourages all serious home buyers to apply for a mortgage during these opportune times.

While rates are off their 52wk lows, the 30 year fixed rate remains listed below 4% as the Mortgage Bankers Association (MBA) showed a decline of 7 basis points from February 27th to March 6th. In this type of environment investors and first-time homebuuyers alike cannot afford not to take notice.

"All good things must come to an end" says Nick a banker at The Federal Savings Bank. "Now is the time to apply for a mortgage and buy a home because both prices remain affordable and interest rates are low, but this environment will not remain forever."

A rate increase may very well happen as the Federal Reserve agreed in December to keep the Fed funds rate near zero until unemployment falls below 6.5%. As the unemployment rates continues to decline the chance of a rate increase will become a reality. With prices for homes steadily on the rise, based on the US Housing Index, potential buyers must apply for a mortgage now to leverage both the opportunity to grasp a bargain listing and a very low interest rate. For more information or to get start on a home loan, visit: TheFederalSavingsBank.com

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