For the second week in a row, home mortgage rates are on the rise. Rates have been at historic lows for around 3 months, but according to a survey released by Freddie Mac, 30-year fixed-mortgage rates are beginning to climb upwards. Americans who have been waiting to refinance may want to act now rather than wait any longer.
Mortgage Rates on the 30-year fixed home loan crept up to 4.37% – up from 4.32% two weeks ago. The 15-year fixed rate slightly decreased from 3.83% a week ago to 3.82%.
Remember, don’t make assumptions about your situation. It’s important to speak to a Home Loan Expert while rates are still low – even if you’re worried about low or negative equity in your home. There are several programs designed to help homeowners refinance in order to find some relief in this economy.
Don’t miss your chance to lock-in a record low mortgage rate. Contact a Home Loan Expert today!