Saturday, July 27, 2013

Mortgage rates fall on 30-year loans -

Mortgage rates fall on 30-year loans - 

Some good news for homeowners or anyone looking to buy a home.
Average rates on U.S. fixed mortgages dropped for the second straight week.
Experts say that's a good sign for home buyers hoping to lock in a lower rate.
According to an article by the Associated Press, mortgage buyer Freddie Mac says the average on the 30-year loan fell to 4.31 percent.   That's down from 4.37 percent last week but nearly a full percentage point higher than in early May.   The rate reached a two-year high of 4.51 percent two weeks ago.
Experts say while rates remain low, they have risen in recent weeks after the Federal Reserve indicated it might slow its bond purchases later this year.   The bond purchases have kept long-term interest rates down.

Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*