Friday, May 14, 2010
Troubles in Europe are having a positive effect on our mortgage rates. Currently, 30 Year Fixed Rate mortgages are holding at under 5%. Short term Hybrid Arm 7 Year Fixed Rates are in the mid 3% range. That's right: if you know you will be living in a home for 7 years or less, you will pay a fixed rate for that whole time period in the mid 3% range. Sometimes trouble is actually opportunity.