If you have been worrying about interest rates going up and your dream home becoming un-affordable, take heart!
Borrowing costs sank to the lowest amounts in more than a year as the 30-year-fixed rate mortgage averaged 3.97 percent this week.
The 30-year fixed-rate mortgage is at its lowest average since the week of June 20, 2013, when it averaged 3.93 percent.
This is how today's rates look as compared to rates last week and at the same time last year:
| This Week | Last Week | A Year Ago | |
| 30-year fixed rate |
3.97%
|
4.12%
|
4.28%
|
| 15-year fixed rate |
3.18%
|
3.30%
|
3.33%
|
| 5-year hybrid ARM |
2.92%
|
3.05%
|
2.42%
|
| 1-year ARM |
2.38%
|
2.42%
|
2.63%
|
So... should you go ahead and buy a home? Just do it!
Call me at 803-348-9922 or email me at vsashikant@gmail.com for listings in the Columbia/Lexington area.
Source: Realtor Magazine
Source: Realtor Magazine
