During May the nation’s benchmark mortgage rate tied a record low. Average rates on 30-year, fixed rate mortgages, the most popular loan among home buyers, slid to 4.78 percent which tied the all-time low record since Freddie Mac’s annual survey began in 1971. As the table below shows, intrest rates this low make homeownership more affordable than ever.
If you would like more information about the current low interest rates, contact your lender or me at slaunchbaugh@cbtulsa.com
Monthly principle and interest payment on a $100,000 30-year fixed rate mortgage.
Interest Rate 5.25% 5.00% 4.75%
Monthly P & I Payment $552.20 $536.82 $521.65
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