Mortgage rates start 2012 at record low

Posted on 01/05/12 No Comments


News and comments last year from those whose job it is to make such comments indicated that mortgage rates would stay very low for the next 12-18 months. Looks like their predictions are right on track, according to, which reports, via the link above, that the benchmark rate for a 30-year fixed mortgage loan fell three basis points to 4.18 percent.

Bankrate reporter Polyana da Costa also states, “This is the lowest level the 30-year fixed-rate mortgage has reached in the 26-year history of Bankrate’s weekly survey.”

We recommend poking around on occasion, as it’s a terrific site with a ton of easy-to-understand financial information on anything from credit card interest rates to how to pay for college. And the insight doesn’t come with a lot of fluff, either.

Even with these great rates, many home buyers are going to need 20 percent in cash to put down on the loan. Those who are ready to pull the trigger in that respect couldn’t really ask for better timing. If we can answer any questions for you about a mortgage or a particular home you’ve been considering, please don’t hesitate to give us a call or zip us an e-mail; we’re happy to help. Our contact information is in the top right corner of this page.

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