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Mortgage rates make early 2015 a good time for homebuyers

Low mortgage rates make buying a home an attractive option








House hunters who might have been bracing for mortgage rates to increase in 2015 are pleasantly surprised.













Rates have dropped to their lowest level since May 2012.













â??They are at a historical low right now. The average for the United States is about 3.81-percent for a 30-year fixed mortgage, which is really low. So if youâ??re in the market to buy or looking to refinance your home, now would be a good time to get in on that,â?? Lindsey Kramer, loan officer at Members First Community Credit Union in Quincy, said.













Mortgage rates have fallen for the fourth straight week, hitting a 20-month low.













According to Freddie Mac, just one year ago, the average 30-year mortgage rate stood at 4.39-percent and a 15-year mortgage at 3.44-percent.













John Beck with Zanger Realtors in Quincy told KHQA about the impact the current rates have on business.













"In fact, this week alone, we've had had eight different listings within a week. So, this would normally be something that you'd see happening in the spring but it's happening already and I'm sure this has something to do with the rates being so reasonable. You know, people are buying houses and selling houses and that's good," he said.













Beck also said this isn't something that happens often.













"When it got as low as it did, and the banking industry and the finances and the credit unions would say this too, they were overwhelmed with re-financing. Rates are the lowest we've seen in years," Beck said.













Bond yields currently are low, therefore mortgage rates also are low.













Itâ??s not the best news for investors, but it is for homeowners and realtors.













"It's a good thing as far as the housing industry, as far as selling, for the real estate business. So we're happy with that,â?? Beck said.













Buyers should keep in mind, though: those attractive rates are subject to change at any time.






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