Best Home Loan Rates Ever

That should be the headline every major news syndicate should be running with this morning. Unfortunately the news, is always about 48 hours late with their revelations on home loan interest rates, and if you wait to hear what they have to say, you've probably missed the boat.

Current 30 year fixed rates: 4.25% is coming at a base cost of .239 on a 15 day, and .490 on a 30 day lock (APR 4.519%)

These low rates are starting to bring borrowers out of the woodwork, which has forced turn times for underwriting review up. Currently 4 days for receiving packages, 8 days for underwriting. This is something you must factor into your plans. A longer closing will require either a long lock period or a longer period of time floating which does expose you to more risk in the form of market volatility. This is the reality of the situation... nothing we can do but plan accordingly.

With this knowledge the question is will these low rates hold. The Fed meeting today will inevitably comment either directly or indirectly on our market. This is where our focus is today... on the Fed comments.

If you are looking for financing, or have been waiting for low rates... now is the time to take action. Look at the long term graph I have posted specifically for the fence sitters. Keep in mind the high points represent the lowest offered rates... on this one year graph I think it is clear that interest rates are as low as they have ever been... and there is no better time to refinance or secure new financing then when rates are low as they are now.

Carpe diem.