Fixed mortgage interest rates continue to hover at record lows and below. Interest rates had fallen further once the Federal Reserve said it would shuffle its holdings to drive down long-term interest rates.Average interest rates on a 30-year, fixed-rate mortgage edged up slightly higher to 4 percent this week, but remained at 60-year lows, according to Freddie Mac. An average 15-year fixed-rate mortgage also slightly increased this week to 3.31 percent this week, down from last week's 3.3 percent.
A drop in mortgage rates could provide some help to the economy if more people would refinance. When people refinance at lower rates, they pay less interest on their loans and have more money to spend, thus boosting the economy overall. Many people don’t realize that 100% of their refinancing (closing) costs can be wrapped back into the new loan.
Many homeowners with good jobs and stable finances have already refinanced in the past year. Last year at this time, the 30-year, fixed-rate averaged at 4.39 percent. Freddie Mac spokesman Chad Wandler said the recent interest rates haven't been so low for at least 60 years since long-term rates began being recorded.
There’s just no good reason not to purchase one of the Hilton Head Plantation villas available at this time. Hilton Head Plantation villas are surrounded by an abundance of amazing natural beauty, championship golf courses, and the vast Atlantic Ocean. It’s a wonderful place to raise a family, a wonderful place to live.
