Mortgage Rates At 37 Year Lows

Mortgage rates are at 37 year lows. The average 30 year fixed rate Loan declined to 5.1% for the week ending December 31 2008. The 15 yeaqr rate dropped to 4.83% which is its lowest level since March 2004 when it was at 4.7%.

Since the end of October rates have dropped by 1 1/3% which for a $200,000 loan means a savings every month on your payment of $173. Money you could use elswhere should you seek to re-finance your exsisting mortgage.

With low rates and falling home prices this is a good time to buy. In Montrose Colorado home prices have about reached the bottom if you are waiting thinking that home prices are going to continue to drop that might be a mistake. There are some great deals out there.

If you would like more information please contact me brownbrit@aol.com visit our web site www.ColdwellBankerMontrose.com