Are you looking for a new home mortgage or refinance in the US? The best time is here. 15 year mortgage rate has fallen down to 2.56% and 30 year mortgage rate is at 3.35% now. Rate has been falling all through 2012 and continuing in 2013 also so far.
Experts suggest that it may be a best time to look at 15 year mortgage model right now.
The low rates have been engineered as a stimulus to the economy by the Federal Reserve. The Fed announced Wednesday it would hold steady on the rock-bottom rates by continuing its "quantitative easing" program of buying $85 billion of Treasury and mortgage-backed securities each month.
Freddie Mac asks lenders each Monday through Wednesday about the terms they are offering to borrowers with down payments of 20% or more, solid credit scores and the capacity to repay their debts.
The borrowers in the latest survey would have paid an average of 0.7% of the loan amount in fees and points to the lender.
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