Fixed Mortgage Rates Drop

When it comes to refinancing, timing is everything. In order to save money, it’s important to get the lowest fixed mortgage rate possible. Whether you have had a fixed mortgage rate all along, or you rate has gone up because you had an adjustable rate mortgage it is likely that refinancing can bring you a much more attractive rate.

Recently, Frank Nothaft, Freddie Mac’s chief economist announced that he believes the housing market is improving, and that both sales of existing homes, as well as new constructions are the highest they have been in more than four years. The average mortgage rates on a 30 year mortgage for the last week in February 2013 was at 3.51%, lowered from the previous week where it was 3.56%. A year ago, these rates were 3.9%. Rates for 15 year mortgages are even better, recently averaging at 2.76%, compared to a 3.17% rate a year ago.

Whether you are getting ready to list your home, or are looking to refinance for a lower rate, it is important to keep up with the latest information, and work with knowledgeable lenders. With Avis Lending you can find all the information you need. Experts in the mortgage industry are ready to go over your mortgage situation with you can find you the best rate possible. Contact Avis Lending today and find out how much you can save.

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