Mortgage Interest Rates Drop for Second Straight Week

mortgage payment bend oregon

Mortgage interest rates in the United States fell for the second week in a row as more home buyers, especially those in Bend ventured out to start searching for homes once again.

Thanks to recent statistics from Freddie Mac we know that the mortgage interest rate for a 30-year fixed loan fell to 4.27 percent recently and the mortgage interest rate for a 15-year fixed mortgage loan is now at 3.33 percent.

What Does This Mean For You?

If you’re thinking about buying a home in Bend now is the right time to get pre-qualified for a mortgage loan because many economists feel that mortgage interest rates will continue to remain low throughout 2014 as unemployment has remained high and job growth hasn’t increased like Washington had hoped.

Historically Low Mortgage Interest Rates

Did you know that mortgage interest rates can be considered to be historically low when compared to where the mortgage interest rate for a 30 year fixed mortgage loan has been over the last 30 years?

2006 – 6.41%

2000 – 8.05%

1994 – 8.38%

1990 – 10.13%

1987 – 10.21%

1984 – 13.88%

Get Pre-Qualified For a Mortgage Loan Now

The best thing that you can do as a Bend Oregon home buyer is get pre-qualified for a mortgage loan now so you can lock in a low mortgage interest rate while it still lasts.

To get pre-qualified for a mortgage loan you will need to provide proof of your income, proof of your assets, have good credit (740 credit score or above), provide employment verification and also copies of your personal information like driver’s license, social security card and more.

For all of your Real Estate needs contact me today by calling (541) 383-1426 or contact me through my website.

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