Mortgage Rates

World Mortgage Corp offer customized solutions for every residential mortgage financing situation, for all credit grade borrowers.

15 yr fixed -- 4.25
30 yr fixed -- 5.06
5/1 ARM -- 3.38

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30 Year Fixed Mortgage rates

 

Are you willing to go for 30 year fixed mortgage rates? Then, it is worth to read this article. Although these rates can vary considerably from time to time, there are so many websites to give you clear-cut idea about the prevailing 20 year fixed mortgage rates.



What is Fixed Mortgage rate?

In this type of mortgage the rate of interest won’t change throughout the loan period. This is high time to start with fixed mortgage rate as the rate is currently unusually low. Don’t forget to check other terms and conditions because the interest rate is not the single factor of importance.

If you’re going to stay in the same house for more than five years, then this is the best type of mortgage. The only disadvantage of this type of mortgage rate is that the rate of interest is slightly higher than the floating interest. And the loan is not so attractive, if the home is sold in less than five years.

The best way to choose any sub-prime mortgage lenders in your area is to query your real-estate broker or agent. You can even reduce the mortgage rates even further if you going to lend from wholesale mortgage lenders as these people will lend at less than average rate. But it is very difficult to locate these people and also difficult to understand the terms and conditions of these lenders than easy-to-find lenders of mortgage.

You should always select a 30 year fixed mortgage rates with five year interest-only option because it is always better than 2/28 adjustable rate mortgages with 5 year interest-only payment plan.

The main reason for the lower rates with this option is that the Federal Reserve spent millions and millions of dollars in mortgage-backed securities to bring down the interest percentage for helping poor housing markets.

If you have already got housing loan, don’t worry. You can simply switch over to 30 year fixed mortgage rates from the existing loan by loan refinancing.

 
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