Mortgage Rate Update – Sept, 7, 2011

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With mortgage rates at or near historic lows for many programs it could be a great time to invest in real estate or to refinance an existing loan. Low cost financing could make your investment dollars go further than possible just a few months ago. Of course, it is always important to take a close look at the risks of any investment, and to discuss the potential tax implications with a CPA or tax professional.
To give you an idea of just how low mortgage rates are currently, here is a snapshot of the rates advertised on ForTheBestRate.com on 9/6/2011 for a variety of programs.

20 Year Home Loan Rates
 Lender
 Note Rate
 APR
 Points
 Fees in APR
 Quicken Loans  4.125%  4.230%  0  $1803
 AES Lending Direct  3.750%  3.887%  0.72  $950
15 Year Home Loan Rates
 Lender
 Note Rate
 APR
 Points
 Fees in APR
 Lending Tree Loans  3.375%  3.614%  0.875  $1418
 New American Funding  3.500%  3.500%  0  $1430
10 Year Home Loan Rates
 Lender
 Note Rate
 APR
 Points
 Fees in APR
 Quicken Loans  3.375%  3.540%  0  $1966
 AES Lending Direct  3.250%  3.261%  0  $1954
7 Year Adjustable Mortgage Rates
 Lender
 Note Rate
 APR
 Points
 Fees in APR
 Lending Tree Loans  2.875%  3.226%  3.625  $830
 AES Lending Direct  3.000%  3.117%  1  $950

Steph Meyer is a contributor to the ForTheBestRate.com Blog and keeps us up to date on interesting happenings within the world of home financing and real estate. She’s got a quick wit and keen eye on making smart financial decisions. My Google Profile+

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