Homes in Stockton: Mortage Interest Rate and Trends for January 2012
Searching for a mortgage lender with the right fit is extremely important for the first time homebuyer and for move up buyers. Rates are at an record lows and home values are flat making a perfect environment to purchase a home. Because there are so many mortgage companies out there, mortgage lending has become extremely competitive.
By shopping around and comparing rates, fees and service, you will be able to get a feel for what is out there, and whatever lender offers you the best deal to fit your needs and your budget, should be your lender of choice.
Buying a home is not something you want to rush into. So take your time and educate yourself. Talk to people within the industry, talk to trusted advisors and friends that have recently purchased a home shop around, than make an educated decision based on what best fit your needs.
Mortgage Interest Rates as of January 13th 2012
Mortgage Loan Type | Today | Last Week | Change |
15 Year Fixed | 3.449% | 3.428% | 0.02% |
30 Year Fixed | 4.122% | 4.093% | 0.03% |
40 Year Fixed | 4.307% | 4.279% | 0.03% |
1 Year ARM | 3.329% | 3.340% | 0.01% |
3/1 Year ARM | 3.304% | 3.289% | 0.02% |
5/1 Year ARM | 3.224% | 3.221% | 0.00% |
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Home values for homes in Stockton and homes in Lodi are relatively flat and mortgage interest rates are stable. The perfect picture is now for your next home purchase. FHA mortgage loan limits have recently increased and often only require a 3.5% down payment. Visit www.your-new-address.com and search for homes on the MLS currently available.