Update1: Mortgage Rates Are Fallingby Tim Manni
Update1: At the close of business today, the 30-year Conforming rate fell even further to 5.01%, according to HSH.com.
According to HSH.com, as of the end of last week, 30-year Conforming rates stood at 5.15%. At the close of business yesterday, the 30-year Conforming rate fell to 5.04% — the lowest level since late March. Even today, rates continue to trend downward.
What’s behind the decline? The turmoil in Greece has sent interest rates tumbling.
“World turmoil and the associated ‘flight-to-quality’ purchase of American assets by investors is to the benefit of homeowners and homebuyers,” said HSH.com’s VP Keith Gumbinger. “But this downturn in rates will likely turn around sharply once the issues at hand are resolved.”
With the homebuyer tax credit out of the picture, and with mortgage rates this low, it may be hard to find yourself a better deal. Take advantage of these low mortgage rates — start your search now!