Home Buyers Re-Examining Market With Lower Rates
Falling mortgage rates could save home buyers over $1,000 in interest annually by comparing options among lenders, a new study finds.
Mortgage rates have fallen to under 6.5% over the last five weeks, increasing opportunities for home buyers. As a result, mortgage applications and pending home sales have risen.
A study by LendingTree shows that recent rate drops could save potential buyers around $40,000 over a 30-year loan. The 30-year fixed-rate mortgage is currently at 6.30%, according to Freddie Mac.
Author's summary: Lower mortgage rates increase home buying opportunities.
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