Is Your Mortgage Lender Santa?by Tim Manni
We don’t recommend asking your mortgage lender if you can sit on their lap and take a picture with them, but we do advise consumers sitting on the fence to go see a mortgage lender and take advantage of the falling mortgage rates.
As of yesterday, HSH’s national survey of mortgage lenders revealed the 30-year fixed-rate mortgage to be at 5.3%, down from Friday’s four-year low of 5.33%. Despite the historically slow holiday season, lenders are getting busy in a hurry. Sales leads in the Lender Showcases have tripled in the last couple of weeks.
There seems to be a new holiday rush — for those of you who have already started your holiday shopping, you know it’s not at the local mall. Submit your application to your lender now, as borrowers wishing to take advantage of the historically-low mortgage rates are wasting no time.