Blockhawk is the eyes and ears for the ever so busy New Yorker who is always looking for ways to optimize their living arrangement. For those of you who’s seek to optimize via ownership instead of leasing, us at Blockhawk would love to inform you that the time is now as 2011 showed the current trend of falling mortgage interest rates.
Home financing giant, Freddie Mac has released their yearly figures of home mortgage rates for the year 2011. Across the board, especially for 30 year fixed rate mortgages and 15 year fixed rate mortgages, interest rates for buyers have dropped, with 30 year FRM closing in December at 3.95% and 15 year FRM at 3.24%.
And as reported by Mia Lamar of the Wall Street Journal “30-year and 15-year FRM required payments of 0.7 percentage point and 0.8 percentage point, respectively” in order to benefit from these lower rates. Not bad!
So for those in the market who are considering that path to ownership, it now seems like now is the time to make that next big step towards ownership