The 30-year conforming loan dropped to 4.5% this week. This is a 35 year low!!!
There’s almost no good news in real estate and real financing. But this really trigger the mortgage lenders phones ringing of the hooks.
Three good things of mortgage interest rate dropping to a new record low:
1. At this rate, it will call back some buyers, Especially the first time home buyers.
2. Refinancing/modification: Estimated 600M monthly saving to consumers due to this low rate triggered refinancing.
3. At this rate, hopefully it will give the falling housing price a bottom floor. Thus, housing market will see stabling trend.
So, have you call your agent and make arrangement for house hunting yet? Or call your mortgage lender about that refinancing?
Here’s the number to call:
**rates are subject to change without further notice.**