Mortgage Rates Continue to Hit Record-Lows

Spectacular view to the appealing Brickell Key condos, a great place to invest in these low-rates times!

Mortage rates have once again hit record-low levels, according to Freddie Mac, the second largest home loan financer in the country. On Auguts 19, two days ago, 30-year-fixed-rate mortgage was down to 4.42 percent, from 4.44 percent a week before, which was also a historical level. 15-year-fixed-rate mortgages also reached a record-low this week, settling at 3.92 percent.

Never before had refinancing been such an incredible option to rise the level of liquidity that American families count on every month. Almost everyone that has a home loan can benfit from refinancing, and surely anyone who is thinking about buying at today’s market can benefit from the incredibly low rates. For example, buying an apartment or a condo in Brickell Key More Infoor Brickell, stands as an incredible option to make an investment at a low cost. An apartment at BrickellMore Info, for example, basically pays itself if the buyer has the intention to make middle and long term gains. Correct desitions point to renting the apartment in the short term, and sell later with convenient prices.

In general, the whole economy could see a benefit from low mortgage rates, if those who have loans today start refinancing and lowering their monthly payments, which could give them a margin to spend and consume more of the extra money. The problem is that many homeowners have “underwater” mortgages, an economic term that comes handy to express situations in which the amount of debt is higher than the value of the mortgaged asset. Perhaps policies should focus to rescue those troubled homeowners, but low rates are going to contribute also to the diminishment of foreclosure proceedings, that are so greatly affecting the capacity of the assets to win value over time.