Mortgage Rates Fall to 52-Year Lows

The 30-year fixed mortgage rate is currently hovering around 5.19% with no points. This an excellent time to refinance your existing higher-rate mortgage or purchase and finance a new home!

Mortgage rates have dropped substantially over the past five months. The average 30-year fixed mortgage rate in late October was 6.77 percent, meaning a $200,000 loan would have carried a monthly payment of $1,299.86. With the average rate now at 5.19 percent, the monthly payment for the same size loan would be $1,096.99, a savings of more than $200 per month for a homeowner refinancing now.