It's interesting that you don't really hear this, but mortgage interest rates are at all time lows right now. Let me repeat that--all time lows. You would think that would be a big story. Right now, my mortgage partner, Michael Caputo from Bank of America, is quoting 4.75% 30-year fixed mortgages and 4.5% 30-year fixed mortgages for FHA loans. FHA requires on 3.5% down, so think about that for a moment: 3.5% down, 30-year fixed loan, all time low interest rate. That should be attractive to most people. And by the way, you can do a 5-year loan at 3.5%. Rates are just absurdly low.
The full article is at Bankrate.com. Click here.
Blogger Matthew Allan is a specialist in Savannah Real Estate, focusing on Savannah's downtown historic districts, including the Landmark Historic District, Victorian Historic District, Thomas Square Historic District, Starland Historic District, Baldwin Park, and Ardsley Park Historic District.
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