4.25% 30 Year Fixed Rate
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30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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Weekly Mortgage Interest Rates At An All Time Low

Current mortgage interest rates are at an all time low. The average 30 year fixed interest rate for this week, the week of December 26- December 30, is at an all time low of 3.91%. This is down from the previous week’s interest rates of 3.94%. This week’s 15 year fixed interest rates are at 3.21%. As the 2011 year comes to a close, never could interest rates be this low again. If you ever considered home ownership, then now is the time to act. Google mortgage rates for yourself and see the lenders that are willing to lend you money for your next home purchase.

If you already own a home, and are locked in with higher interest rates, now might be the perfect time to consider refinancing your new home. Refinancing to today’s current mortgage interest rates could save you hundreds of dollars in your monthly mortgage. Take a look at a typical loan of $250,000 at a decent 5.5% interest rate. When this loan was written several years ago, this interest rate wasn’t bad at all. Now, if you refinanced at the 3.91% rates on the same loan, you can save almost $200 a month. Take this extra money and use it to pay off your other bills, put it away for the kid’s college or open up an IRA. The possibilities are endless.

If you are a first time home buyer, you may not understand the significance of interest rates that are this low. Using the above example, you would pay $2,4000 per year less than other people you may know that received mortgages several years ago. In fact, you can really get ahead in life if you were able to pay off your mortgage even earlier. Perhaps you could even retire sooner than you had planned. Take advantage of home loans such as an FHA and take the first step toward financial security and achieving the American dream of home ownership.

So go ahead, google mortgage rates for yourself and see that these rates may never be this good again. In this slow economy and period of financial uncertainty, you can come out on top by locking in current mortgage interest rates today.