Fixed Mortgage Rates Drop Below 4%
Why the recent drop? Anthony Alvarez investigates. Video by kmir6.comvideo
PALM DESERT - For six straight weeks, the rate has stayed below 4% on a fixed-rate.
According to MSN Money, the droppped rates are to off-set rising guarantee fees.
National Mortgage Servicing News says the fees will re-pay the 2-month payroll tax reduction congress passed right before Christmas. Local agents say even those looking to refinance can also get a good rate right now.
According to erate.com a 30 year fixed is at 3.5%.
A 15 year fixed at 3.1%.