Mortgage rates are at all-time lows, there is not doubt about that. It’s a great time to buy and contrary to popular belief, it’s not hard to qualify for a loan if you can prove your qualifying income via W2’s or tax returns.
Freddie: 30-year fixed-rate mortgage at record low
Treasury-indexed ARM rates more than a percentage point lower than a year ago
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — The 30-year fixed-rate mortgage has hit a record low, ticking down to an average 4.57% in week ended July 8, compared with 4.58% in the prior week, Freddie Mac reported Thursday.
To obtain the latest rate, the mortgage required payment of an average 0.7 of a point. A point is 1% of the mortgage amount, charged as prepaid interest.
The year-ago average for the 30-year fixed-rate mortgage stood at 5.2%.
Read the rest of the story here: Mortgage rates hit new record lows Mortgages – MarketWatch.
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