Getting the best fixed rate mortgage is a task in and of itself with the current mortgage market the way it is.
We have seen interest rates move from 4.
8% to 5.
6% and back down to 5.
1%.
Sometimes there are daily movements of as much as a full percentage point.
This makes it very difficult to get the best home loan available.
If you go on a Monday and get quoted at 5.
2% you could very well see rates at 5.
5% by Friday.
This makes the mortgage decision even that much more difficult.
Keeping up with current mortgage rate predictions can greatly help with getting the best fixed rate mortgage.
If you have an idea of where interest rates are headed, you could save thousands of dollars over the course of your mortgage.
Many new home owners locked in their first home loan at under 5% if they bought in March or April.
This is likely to save them tens of thousands of dollars over the entire period they are paying on the loan.
The government is going to work very hard to keep average rates around or under 5% so it is a great time to find the best home loans.
Every situation is a little bit different so finding the best loan for you may be extremely different from your neighbor or someone you may know.
By taking the time and doing extensive research, you will be able to better determine what home mortgage is best suited for you.
Use your friends and family as well as many of them have been through the mortgage process.