Chicago, IL (PRWEB) February 11, 2013
The Federal Savings Bank sees that 30-year mortgage rates have remained steady across the country. This is a calling to all first-time home buyers and potential re-financiers. Current low mortgage rates could help strengthen the recovering housing market and possibly boost the economy if enough people refinance or take on new house loans.
According to a Freddie Max survey on January 17th, 15-year mortgages dropped to 2.77 percent, down from the previous week's 2.81 percent (final week of January). Fifteen year mortgages remain at lower-than-ever rates. These lower interest rates are encouraging more people to buy or refinance homes. Further, rates are unlikely to increase significantly anytime soon which means this improving housing market could gain momentum.
With historically low interest rates,The Federal Savings Bank, thinks now is a beneficial time for eligible veterans to secure a VA loan. According to the Department of Veteran Affairs, qualifying veterans can receive a loan guaranty with the possibility of buying a home zero money down. Those who already have VA loans may look into an Interest Rate Reduction Refinance Loan and take advantage of these low interest rates for 15 and 30-year mortgages.