Mortgage Rates Have Dropped

Posted by Joe Manausa on Tuesday, January 15, 2008 at 12:49:11 PM By Joe Manausa / January 15, 2008 2 Comments

Mortgage rates are at a two-year low. This creates opportunity for homeowners with two exciting choices. If you are comfortable with your current mortgage payment, come in and see how much home you can now buy (since it is a great buyers' market). You might be surprised in the value you can acquire.If you would like to see your payments drop, you should look into refinancing your home while rates are low. You might be able to save hundreds of dollars a year (or more), according to Freddie Mac’s January 10, 2008 Primary Mortgage Market Survey:The average principal and interest payment on a $250,000 loan has dropped by $131.83 per month since August 3, 2007.1And, there’s more good news:

The 30-year fixed rate mortgage averaged 5.87% with 0.4 points2
The 15-year fixed rate mortgage averaged 5.43% with 0.5 points2
The 5/1 ARM averaged 5.63% with 0.5 points2
The 1-year ARM averaged 5.37% with 0.6 points2

Go with a lender you can trust. Over the years, Joe Manausa Real Estate Mortgage has helped quite a few of our customers. Call or visit Joe Kupiszewski at (850) 322-1525.

1. Calculations based on the Freddie Mac average 30-year fixed rate mortgage on August 2, 2007 (6.68% with 0.3 points) versus the Freddie Mac average 30-year fixed mortgage on January 10, 2008 (5.87% with 0.4 points).2. “January 10, 2008 Primary Mortgage Market Survey (PMMS),” Freddie Mac, McLean, Virginia

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Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.

Discussion

#1 By Dave at 7/11/2017 3:43 AM

Joe,

Can you get these rates with 100% financing?

thanks

#2 By Joe Manausa at 7/11/2017 3:43 AM

Dave, the short answer is yes. You need to know how to structure your purchase agreement to take advantage of these rates with 100% financing.

Mortgage Rates Have Dropped

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