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Rates are making life more affordable! 

 

There has never been a more opportune time in the history of mortgage lending than we are seeing today.  With unprecedented low interest rates and home values as low as they have been in the last 10 years, this is an incredible time for homeowners to save thousands on a refinance and also allow homebuyers to purchase a more affordable home for themselves and/ or their family. 

Mortgage rates are at their lowest levels since the early 1950s, said a recent report from Freddie Mac, which could help to stimulate home sales growth and recovery in the housing market in 2012.

Both 30-year and 15 years fixed-rate mortgages fell to new record lows in September.

Financial worries among consumers are likely holding back home sales, which remain lackluster despite the most affordable home-buying market in decades; however, we believe that the likelihood of interest rates remaining low in the foreseeable future is a definite plus.

The Housing Market Outlook noted that housing market growth could be seen in 2012 if the current low interest rates persist and are coupled with fiscal stimulus.  With monetary policy expected to keep interest rates low for a while, affordability will remain high for potential homebuyers. 

Like most economic indicators, we also feel it is very important to boost job and income growth among households, because this will support consumer confidence and also stimulate the household.

If interested in seeing how much you can qualify for, please try our pre-qualification calculator, apply here, or call one of our licensed loan officers for more information.  At MBA, we strive to provide you with as many options as you have available so that you can make an educated decision on what fits your needs best.