Mortgage Rates Reach a New Low for 2016 | Realtor Magazine

There is no better time to borrow mortgage money.  If you are in the market, get approved before shopping to allow optimal price negotiating.  The most attractive properties to buyers are now receiving multiple offers.

30-year fixed-rate mortgages: averaged 3.58 percent, with an average 0.5 point, dropping from last week’s 3.59 percent average. Last year at this time, 30-year rates averaged 3.67 percent.

15-year fixed-rate mortgages: averaged 2.86 percent, with an average 0.5 point, falling from last week’s 2.88 percent average. A year ago, 15-year rates averaged 2.94 percent. 

5-year hybrid adjustable-rate mortgages: averaged 2.84 percent, with an average 0.4 point, rising from last week’s 2.82 percent average. Last year at this time, 5-year ARMs averaged 2.88 percent.

LInk to article:  Mortgage Rates Reach a New Low for 2016 | Realtor Magazine:

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MONTHLY MORTGAGE PAYMENTS 40% CHEAPER THAN 2006 per HousingWire.com

Monthly mortgage payment almost 40% cheaper than 2006 « HousingWire:

"Housing affordability improved dramatically because of declines in both prices and mortgage interest rates, according to David Stiff, chief economist at Fiserv."

Via: HousingWire.com

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