Mortgage Basics: Mortgage Rates

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Homeownership has always been a central part of the American Dream…and it’s practically never been more affordable than right now.

The housing market collapse did real damage to a lot of people’s personal finances—that’s sadly true. But like any cycle, the downturn in real estate has also created a once-in-a-lifetime opportunity for those looking to buy-in.

To buy a house, you’re typically going to need a home loan. Naturally, mortgage lenders charge interest on the loans they extend. But with demand being so weak in recent years, mortgage rates have fallen to historic lows, and that has many people thinking now is the perfect time to act.

[Mortgage Help: Get your free credit report and see if your credit score is mortgage qualified]

Record-low rates coupled with depressed home prices are enabling folks to enter the market who might have felt priced-out just a few short years ago. What kind of mortgage is right for you? Just how low are these rates? And what should you know about the process before you start house-hunting?

Take a look at these articles on mortgage rates and your home-buying options from the Quizzle blog and beyond:

3 Ways to Lower Your Mortgage Rates
Lowest Mortgage Rates Ever!
5 Steps to Grab Your Record Low Mortgage Rate
What if You Could Buy a House?
What Can Your Home-Buying Dollar Purchase?

Additional Resources:

How to Afford Payments on Your Adjustable Rate Mortgage
Borrower Guide to Adjustable Rate Mortgages