Tuesday, November 25, 2008

Interest Rates Way Down - 30 Year Fixed. 5.5%

Good news for home buyers and soon to be buyers. Interest rates have dropped to make housing even more affordable.

Right now 30 year fixed mortgages can be obtained at 5.5%. Interest

FHA loans are going for 5.75%.

It's a great time to buy when you consider that home prices are down, and interest rates are great. If you had a $200,000 home loan at 7% interest, you would be paying $1,330 per month P.I. At 5.5% that payment would be $1,135 per month. That's a savings of $200 each monthy.

For more information on available loan products, contact Paul Vaslett with Cache Valley Mortgage. (435) 752-1414

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