Mortgage Rates Fall Even Lower

By Alec Foege
| Posted Jul 8th 2010 2:34PM
1 Comments

If you're looking for a home, the best time to apply for financing is now, now, or now. After reaching record lows last week, mortgage rates dropped a hair lower, making it an optimum time to apply for new loan. The average rate for a 30-year fixed-rate loan fell to 4.57 percent this week, as compared to 4.58 percent last week. Rates haven't been this low since the 1950s. Meanwhile, home sales remain down -- but then again, so do prices.
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Filed under: News

Poll

With spring home buying season around the corner, will you consider buying?
Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage.3077 (20.4%)
No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment.5156 (34.1%)
No, I'm holding out for an even better deal.2856 (18.9%)
Nope. It's a renter's life for me.4013 (26.6%)
AOL RealEstate on Facebook

Compare Mortgage Rates

Mortgage Rates by Zillow