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Mortgage rates fall to RECORD LOW

June 24th, 2010 | Author: georgine

Mortgage Rates fell this week to the lowest level on record, providing buyers with another incentive to BUY NOW or refinace loans.

The average rate for 30-year fixed loans to 4.69%, from 4.75% last week, according to Freddie Mac, which is the lowest point since Freddie Mac began tracking rates in 1971.

So if you buy a Philadelphia house for $100,000 and put 5% down the monthly principle and interest would only be $492.12. A  $400,000 Philadelphia home could be had for under $2000.  All though the one time tax credit was sweet, this is an amazing deal. So with rates and asking prices so advantageous this truly is the time to invest in Philadelphia Real Estate.

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