Orlando mortgage rates have been on the decline in the past week, but is now a good time to buy a home? There are certainly mixed opinions on this issue because home values could have a ways to go.
Regardless many Americans are deciding to purchase their first home and home sales have reached a two year high, as compared to the abysmal news that usually comes out of the market, mostly due to low interest rates and the Obama tax credit.
Now is definitely a good time to refinance and lock into a fixed rate Orlando mortgage, even if you think you don’t qualify. You might be surprised at how much less you can pay a month on your home loan if you simply give a mortgage broker a call.
Usually it is a good idea to refinance if the spread between your current rate and the new rate is above 1%, but it really depends on how much in fees you are charged. Orlando mortgage rates are certainly a terrific deal right now.
Tags: first time home sales, low interest rates, orlando mortgage rates