ABBA First Mortgage News

Waiting for that lowest rate?

“Fixed mortgage rates could fall to 3.3% by the end of the year as the nation’s economy slows, according to Lawrence Yun, chief economist of the National Association of Realtors. That would put the rate just a smidge below the 3.31% seen in November of 2012 – the lowest average for a 30-year fixed mortgage in Freddie Mac data going back to 1971.”

ABBA First Mortgage quoted a 3.25%, 30 year fixed rate mortgages with a .5 discount point at that time back in 2012.  Incidentally, we closed a purchase loan recently for 3.375% with 0 points for a client with the right parameters when the rates had hit a low and he was prepared to lock in the rate with us for he had “set the table” by completing the application and had already been pre-approved.  Other clients also have done the same and have taken advantage of just having to lock in their rate because they had already “set the table” with us.  Please call us at 910-332-0650 so that you too can be ready to obtain the lowest rate available for your needs as well.  Or, if you’d rather,  complete the Full Online Application that is found on our site at:

https://5329129220.mortgage-application.net/WebApp/Start.aspx?oempage=1

We look forward to working with you and for you.

Excerpts in quotes taken from Housing Wire Newsletter Sept. 9 2019

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