From MSN Money- National Averages(APR): Low – 5.41% Average – 6.11% High – 7.17%
Well, it looks like last week was a slight dip in rates.
Rates do determine how much you can borrow for a new home, but the most emotional factor is the home price. This article link warns of the temptation to buy too much house and set yourself up on a financial house of cards. In our particular market keeping the home price down is definitely a challenge.
To discuss mortgage options call Margie @ 805-473-0309.