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Mortgage rates have dropped again to record lows on both 30-year and 15-year fixed rates. Freddie Mac reports the average rate for a 30-year mortgage dropped to 3.56%.  That’s down from 4.51% this time last year. The rate on 30-year loans has fallen to or matched record lows 11 of the past 12 weeks. The 15-year fixed rate fell to 2.86%. These rates are the lowest since long-term mortgages began in the… Read More

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Mortgage rates continue to be ridiculously low, hovering around 5%. Rates are great. Home prices are low. It’s a perfect storm for buying a house, right? You’d think. Trouble is, so many people can’t land a loan. I hang around realtors a lot (my wife is one), and I’ve heard more than once how difficult it is to borrow money. Tighter Restrictions These days, only qualified borrowers get financing.  CNNMoney.com reports that nearly… Read More

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