In addition to the good news that Congress may consider extending the final deadline to close on a home if you’re trying to take advantage of the Home Buyer tax credit, mortgage interest rates continue to drop and last week dropped to a near record low.
According to Freddie Mac, the average 30-year fixed rate was at 4.72 percent, which is skimming the record of 4.71 percent. The 15-year fixed loan also set a record low, resting at 4.17 percent after dropping from 4.2 percent.
This is the fourth consecutive month that this loan has set a record. (LA Times)