Today’s Mortgage Rates – The Time For Mortgage Deals
With a real estate marketplace flooded with foreclosures, short sale offerings and bank owned real estate (REO’s), the climate for real estate investment is very favorable. Add today’s historically low mortgage rates and it is easy to see why investors are adding blocks of real estate inventory to their portfolios.
Fixed mortgage rate interest is now well below 5 percent. These favorable rates are available on 10, 15 and 30-year loans. The mortgage rates for variable mortgages are also at low levels but most buyers prefer fixed rate mortgage products where the principal and interest payments are consistent for the life of the mortgage.
For investors with good credit, the sky would seem to be the limit. To help offset the cost of the real estate investment, investors are finding that many Americans are displaced and although not qualified to purchase a home are qualified to be good tenants.
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