Interest Rates – May

Most people have heard the following phrases: “now is the time to buy”, “interest rates are low, act now!” Take a look at the interest rates as provided by Wells Fargo and the National Home-Builders Association. Keep in mind that these change on a daily basis and most likely won’t be the same if you log in to check them yourself.
Today’s Mortgage Rates:
30-Year Fixed: 4.125% – APR 4.241%
15-Year Fixed: 3.500% – APR 3.720%
7-Year ARM: 3.875% – APR 4.563%

*These rates are a snapshot from Wells Fargo.*The National Home Builders Association provides a valuable resource to those people who are considering building a home.

While interest rates have started to climb back up from 2 or so years ago, the current market conditions still are very favorable for those who are seriously considering a major decision, such as building their own dream home.

It might be time to start taking notes when you hear people say: “now is the time to build” or “you better act now before it’s too late!”