Mortgages Rates Are On The Decline

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Peoples Home Equity comments on the recent movement of mortgage rates.

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Fearfully high rates will not show up unless the stock market continues higher, and inflation rises.

Peoples Home Equity has good news for first-time home buyers. Mortgage rates are trending at 2015 lows!

As shown on MortgageNewsDaily.com, 30-year fixed loan rates closed at 3.68% on Tuesday, January 13th. This is tied with the 3.68% the market saw last Tuesday, which is the lowest figure for all of 2014 and 2015. This is great news for first-time home buyers, especially in the wake of anticipation of a rate hike from the Federal Reserve. If rates continue to fall, which happen if a stock market correction occurs, then a Fed rate hike would not send rates too high up. Fearfully high rates will not show up unless the stock market continues higher, and inflation rises. Then, first-time home buyers should lock in a rate now. We are trending into unknown times ahead, an opportunity is presenting itself now and buyers should recognize this fact. If rates do continue lower, then one can always refinance later. Over the past 52 weeks, rates have been as high as 4.56%, now they are on the lows at 3.68%, larger jumbo loan amounts over a 30-year terms are at 3.61%. For those willing to commit to a larger monthly payment, 15-year fixed rates are at 3.02%.

Regardless of which direction mortgage rates trend toward, Peoples Home Equity strongly encourages all prospective buyers to at least get themselves approved for a mortgage. If one is hesitant to begin the applicant for a loan over fear of the cost, visit PeoplesHomeEquity.com and see how much a monthly mortgage payment will cost by clicking “Monthly Payment Calculator” under the “Calculators” tab.    

Contact a Peoples Home Equity loan officer today at: 262-563-4026

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Giorgio U Ferrero
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