Mortgage Rates Average 4.81% This Week, Says Informa Research Services

Mortgage Rates Average 4.81% This Week, Says Informa Research Services

CALABASAS, CA–(Marketwire – May 26, 2011) – After bouncing back and forth across the 5% mark for the past few months, mortgage rates have recently settled just below 5% sustaining a national average of 4.81% for the past two weeks according to Informa Research Services, a subsidiary of Informa plc (LSE: INF). Homeowners in the market for a home know that they should keep their credit in tip-top shape to qualify for the best rates, but online rate comparison tables may also lend a helping hand when searching for the best local mortgage rates.

Since it is uncertain where mortgage rates will go from here, those looking to purchase a home can monitor free online rate tables to view current mortgage rates. Checking these rate tables regularly is an easy way to gauge where rates are and possibly where they are going.

Furthermore, in addition to providing a quick snapshot of current rates, these tables also provide easy access to some of the nation’s lowest mortgage rates. Many of the lenders featured on online rate tables offer rates well below the national average.

For instance, while the current national average on a traditional 30 year fixed rate mortgage resides at 4.81%, lenders such as AimLoan.com offer rates as low as 4.375%. The 0.435% difference between these rates can equate to thousands of dollars saved over the term of the loan.

The rates for buyers are incredible. With low prices on real estate and low interest rates, it’s time to get off the fence and buy real estate.

Posted on Calabasas Real Estate-Calabasas Homes For Sale

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