Mortgage rates are at their lowest point of the year! According to Mercurynews.com:
"The average rate on a 30-year fixed rate mortgage dipped to 4.78 percent this week from 4.84 percent a week earlier, mortgage company Freddie Mac said. It was the lowest level since early December, when rates fell to a record low of 4.71 percent.
Concerns over the European debt crisis have sent yields for 10-year and 30-year Treasury bonds to their lowest levels of 2010. Rates on 30-year home loans often rise and fall in line with the 10-year note."
With that in mind, it may be time to look at your interest rate again to see if your payment would benefit by a refinance. Additionally, you may still have time to cash in on the low interest rate on purchasing a different home!
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