According to an article via Mortgage News Daily posted yesterday, mortgage rates moved slightly lower yesterday, but the change was enough to officially hit new all-time lows. Now more than ever, first-time homebuyers have the opportunity to purchase a really great home in some of Atlanta’s best neighborhoods.
The article from Mortgage News Daily states:
“Certain lenders’ rates are unchanged on the day, and some are even slightly higher, but the average moved lower. Even then, the actual INTEREST RATE would be the same as it was yesterday. The improvements from yesterday were seen in the form of lower borrowing costs for those same rates. Bottom line: Best-Execution remained at 3.625%, but just got a bit more affordable.”
Current homeowners can also benefit from the low mortgage rates, too. With opportunities like HARP 2.0 and the FHA Streamline Refinance Program, many households can take advantage of these great rates, while putting some money back in their pockets for summer.
I think the HARP 2.0 mortgage program has done a lot of good for homeowners but there is still room for improvement. Borrowers should have the choice to shop around at any bank they want and not essentially be tied to using their existing servicer in order to use the full benefits of the program (such as no limit on the LTV), which appears to be the case from what I’ve experienced.
Great article and keep up the good work.
Thanks!
Joe