Refinancers and home buyers should expect a record low interest rates. As rates are dropping, purchasers have started once again to apply for a home mortgage and buy a home. Since May 4, 2012 the number has gone up by 3.4%, according to the Mortgage Bankers Association. As a general matter, applications to get a mortgage have risen to 1.7% during the current week.
Refinancing applications boosted to 1.3%. Based on a refinance analysis made by Freddie Mac, homeowners interested in buying a home will also have the chance to save up some important sums of cash. At this point, those interested in investing in a house will stumble upon a decreased interest rate for a 30 year mortgage rate of 1.5%. For the past 27 years, this rate is the greatest percentage decrease in interest rates.