U.S. 30-Year Fixed Mortgage Rates Plummet for Second Consecutive Week

(PRWEB) April 12, 2013

Borrowing costs have long been an issue for those looking for a home mortgage or refinance. However, due to this weeks mortgage rate tumble, consumers are presented with near-historical percentages and an undeniable opportunity. Indeed, the weeks to come will be ideal to refinance or purchase a home. According to Freddie Mac (FMCC), 30-year fixed home mortgages plummeted to 3.43 percent, with the average 15-year rate down to 2.65 percent.

This rate drop has been accredited to a weak unemployment report in March. Understandably, an unemployed economy prompts would-be home buyers to hesitate when faced with purchasing a home. This leads to a significant loss of income for mortgage lenders and potential loan application agencies. This, in turn, leads to the lowering of mortgage rates with the hope that consumers resume home purchasing.

In short, now is the perfect time to make that home purchase or refinance. Many buyers are visiting Rate State for free home mortgage rates and reviewing multiple quotes from a whole network of willing and affordable lenders. Consumers can use this innovative tool by simply entering their zipcode. This weeks rates will appear quite appetizing, even for those on a tight budget. In the end, Rate State recommends that mortgage shoppers take advantage of both todays low rates and their convenient online tool, and buy the home they need.

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