NewEnglandAppraisers.com http://newenglandappraisers.com New England Home Appraisers Sat, 28 Apr 2012 13:18:20 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Mortgage Rates Today Bring Some Buyers Back http://newenglandappraisers.com/mortgage-rates-today-bring-some-buyers-back http://newenglandappraisers.com/mortgage-rates-today-bring-some-buyers-back#comments Thu, 11 Aug 2011 13:59:09 +0000 admin http://newenglandappraisers.com/?p=12 Continue reading →]]> Mortgage rates today are very low right now rates are bringing some buyers back into the market. Today’s mortgage rates on 30 year mortgages can be found for under 4.00%. Current mortgage rates aren’t the only rates that are low, cd rates are also low. Interest rates have come down a lot the past several weeks because of all the turmoil in the markets. In addition to mortgage rates going lower refi rates have also come down considerably. In 2011 1 year CD rates cdrates.me dropped to a new low of 0.50% and savings account rates also dropped to record lows making the income of those who are retired drop.

Even if a buyer can get a 30 year loan at a low rate many buyers are still afraid to buy since home prices continue to decline. In some markets home values are down more than 60% from the 2006 high. Many other current home owners who want to refinance a loan can’t because of having negative equity or not having enough equity in a home.

Most lenders require at least 20% equity in a home when refinancing. Today’s refinance rates are also very low many home owners are refinancing a 30 year loan to a 15 year loan. Lower mortgage rates make monthly payments smaller. 15 year mortgage rates can be found at 3.25% right now.

A home’s price is the biggest factor in getting it sold. Pricing a home to high won’t get it sold. Make sure you have your real estate agent to a comparative market analysis (CMA) and price your home right.

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