Published on Saturday 15 September 2012 15:10
BANK of Ireland UK has it is ring-fencing £200m for mortgage lending in Northern Ireland in a move which it hopes will encourage more people back into the housing market and people in Lisburn are being urged to apply.
The Bank’s allocation of £200m is designed to signal the availability of competitive mortgage finance not only to first-time buyers, but to those thinking of moving home and those who want to re-mortgage their properties.
It is no secret that mortgage rates are at an all-time low.
The prospect of having a 3.79% rate for a 30-year fixed mortgage or a 3.04% rate for a 15-year fixed mortgage rate, sounds almost too good to be true.
Another Small Shift in Mortgage Rates this Week
Best 15 Year Mortgage Rates Refinance
The 15-year fixed mortgage rate averaged 3.23%, down from 3.3%. Start rates on adjustable mortgages also fell.
The borrowers would have paid less than 1% of the loan amount in upfront fees to the lenders, with 20% down payments or equivalent home equity in the case of refinance loans, Freddie Mac said.
When looking to purchase a home, many people choose a 15 year mortgage over other mortgage products. Since the loan will be paid down more quickly than other mortgage products, it is often preferred by mortgage lenders. Because of this, a 15 year mortgage comes with a fixed payment and lower interest rates than other mortgage products.
Mortgage rates: new record lows. Again.
Mortgage rates drop to 3.87 percent for a fixed 30-year loan; 15-year fixed mortgage rates fall to 3.14 percent. That's the lowest in more than a half century of data.
Mortgage rates fall: 15-year loan hits record low
The average rate on the 30-year fixed mortgage dropped near its all-time low this week, making home-buying and refinancing a bargain for those who can qualify.
As 30-year fixed mortgage rates have hit historical lows, there’s been one less-publicized corollary: 15-year fixed rates are low, too.
Last week’s 15-year rate was at 3.30 percent, down from 3.33 percent the week before.
Average rate on 30-year fixed mortgage falls to record 3.91 percent, 15-year flat at 3.21 percent
WASHINGTON — The average rate on the 30-year fixed mortgage fell to a record 3.91 percent this week, the third time this year that rates have hit new lows.