One score and 19 years ago, 7.63% was the rate on a 30 year fixed, conforming mortgage. Today, mortgage interest rates sit a four decade low.. The chart below shows the 30 year fixed, conforming interest rate history from 1971—since the Federal Open Market Committee (FOMC) has been tracking this rate—to September 2010.
I’m asked a lot about what needs to be done financially before buying a house. That’s usually pretty easy to answer, make sure you have at least 3% of the offer price in cash in your checking account; be pre-approved by your lender; have any additional funds for the down payment ready to make liquid…Read More »
Today is Friday and the end of another work week. This weekend will find Open Houses waiting for you to visit and hopefully you will want to buy one for your family. With everything that has gone on in the lending world lately, you may be asking yourself, “Can I buy a home now? Is…Read More »