If you haven’t refinanced your home mortgage in the last three years and you can qualify for a refinance, it is time (again). Bankrate has issued its mortgage rate and the rates are just shockingly low. While little changed in the last week, the average 30-year fixed mortgage interest rate held steady at a record low of 4.18 percent with an average of 0.35 discount and origination points for the third consecutive week. Bankrate.com’s weekly national survey. The average 15-year fixed mortgage has nudged a tad higher compared to the record low of 3.39 percent the week before.
The logic behind the rates is so much international uncertainty even as the economic numbers improve in the U.S.
Bankrate noted, “The lack of progress in resolving the European debt crisis continues to fuel the record low mortgage rates. Even though the tone of economic data has been better, the tenuous nature of Europe’s debt woes means demand for safe U.S. government bonds is high, keeping bond yields and mortgage rates particularly low.”
If you can refinance and have not looked into it, you owe it to yourself.
JON C. OGG
Top Gaining Stocks
Top Losing Stocks