Mortgage rates for a 30-year fixed rate have risen marginally from 3.88% to 3.98% remaining at an all time low for the past eight weeks. 15-year mortgage rates are at 3.24%. Average rates exclude points, which many borrowers have to pay in order to get the lowest rates. One point equals 1 percent of the loan amount.
This makes it a perfect time to buy a home and enjoy an affordable monthly payment.
Resale home sales have been steadily rising and builders are optimistic again as they are seeing an increase in new construction purchases.
The American dream of home ownership is still alive and well.
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