… so now is the time to buy.
We all knew those historic low rates couldn't stick around forever, and for the first time this year we saw mortgage rates break over the 4 percent barrier.
Mortgage rates for 30-year fixed loans fell this week. The current rate borrowers were quoted on was 3.93 percent, down 3 basis points from the same time last week.
The 30-year fixed mortgage rate rose to 4.01 percent last week before falling and then hovering around the current rate for the rest of the week.
Additionally, the 15-year rate was 3.05 percent. For 5/1 ARMs, the rate was 2.93 percent.
What we can gather from this is yes, mortgage rates are still low. However, they won't stay low forever. Now that we've finally bumped into the 4 percent range, it's time to start thinking about buying property before the rates begin their anticipated climb through the end of the year.
Check out the original article on AOL Real Estate.
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