After the Federal Reserve announced its plan to reduce borrowing costs even further than they already are, mortgage rates in the U.S. have fallen to a record low. The average 30-year mortgage interest rate is just 4.01 percent according to Freddie Mac, which is the lowest rate they have on record since 1971!
Along with buying houses, those who are already own homes are taking advantage of this by reducing their monthly payments. Last week, a Mortgage Bankers Association index of refinancing rose 11 percent from the prior week.
Overall, if you have been debating whether or not now is a good time to buy a home, the answer is YES! Now it the time to buy!
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