Today's edition of USA TODAY published the following ad sponsored by REALOGY regarding current interest rates:
WANT TO GET A MORTGAGE RATE LOWER THAN YOUR PARENTS DID?
MOM AND DAD WOULD BE PROUD
In 1966, the average mortgage interest rate was 6.26%. (1) Maybe that's why your parents bought that nice ranch house you grew up in. Well, who says opportunity doesn't knock twice? Today, rates are now averaging 6.11%, the lowest since January 2006. (2) Rates for 30-year fixed morgages have dropped in 16 out of the past 21 weeks. That could reduce your mortgage payments by more than $2,000 a year depending on your loan amount - not to mention the $60,000 in interest payments you could save over the life of the loan. (3) And, with a great selection of available properties on the market, finding just the right home has never been easier. So take time this weekend to learn about home buying opportunities in your area. Contact a real estate professional at one of our well-known, brand name companies below or visit their Web sites. Remember what your mom and dad used to say, "He who hesittates is lost!" So don't wait too long, since a good thing doesn't last forever.
1 Federal Housing Finance Board – Data sourced from fhfb.gov
2 Primary Mortgage Market Survey® data provided by Freddie Mac. Based on an average 30-year fixed mortgage rate with an average 0.5 point.
3 Based on a 30-year mortgage of $400,000 with a fixed rate of 6.11% vs. the July 2006 average of 6.76%.
www.century21.com www.coldwellbanker.com www.era.com©2006 Realogy Corporation. All Rights Reserved. Each office is independently owned and operated except offices owned and operated by NRT Incorporated.For a complete listing of Realogy companies, visit our corporate web site, www.realogy.com Primary Mortgage Market Survey® data provided by Freddie Mac
