Mortgage Rates are Falling

This week mortgage rates have fallen. Get ready to pick that house out that you have been eying up. Now this the time to lock in a rate.

“Rates on 30-year fixed mortgages fell to 5.14 percent for the week ended July 16, down from 5.20 percent a week before and 6.26 percent a year earlier, Freddie Mac reports.

Interest on fixed home loans has fallen in four of the past five weeks, and Freddie Mac economist Frank Nothaft says rate activity during that time has lowered the monthly payment on a $200,000 loan by $56.”  – Quoted from Realtor.Org

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