30 year home loan rates drop again.

[flippinout]

For the 3rd straight week, 30 year home loan rates have dropped, and are now close to record lows over this spring. This provides a good opportunity for homeowners to save money by refinancing.

With the average low at 5.04, this makes it a good time not only to refinance, but also to purhase a home.

The reason for the drop was because the Federal Reserve is spending $1.25T on mortgage backed securities.

Sung Won Sohn, an economics professor at California State University believes that rates will stay low for another 6 months.

[Eyeofngt]

That is very good news!! Maybe people that could not afford a home of thier own can now. Just make sure you get a fixed rate!!! Good Luck to all that buys!!