Now is the time to get a home. Since the mortgage are at near record lows. Check out this great article!
NEW YORK (CNNMoney) — Rates on the average 15-year, fixed-rate mortgage hit a new low this week, falling to 2.66%, according to mortgage giant Freddie Mac.
The 15-year is particularly popular with homeowners who want to refinance their old mortgages to a lower rate and pay off their loan more quickly.
Interest rates on 30-year loans, which are popular among first-time homebuyers, averaged 3.37%, a single tick above the record low of 3.36% set two weeks earlier.
That may be happening already, according to Keith Gumbinger, of mortgage information company HSH.com.
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