Mortgage Rates Continue to Plummet for 15- and 30-Year Terms | August 5, 2024
As of August 5, 2024, homeowners and prospective buyers are seeing a significant drop in mortgage rates, offering a prime opportunity to secure lower monthly payments and overall interest costs. The interest rate for a 30-year fixed-rate mortgage now stands at 6.125%, which is a notable decrease of 0.250 percentage points from the rate on Friday. Similarly, the interest rate for a 15-year fixed-rate mortgage has also seen a reduction, now at 5.490%, down by 0.135 percentage points from Friday's rate. These rates were last updated on August 5, 2024, and are based on specific assumptions, so actual rates may vary depending on individual circumstances.
Why This Matters
For those carrying high-interest credit card debt or looking to buy a home, these lower mortgage rates present a valuable opportunity to save money. Refinancing a mortgage at these reduced rates can potentially reduce monthly payments and the total interest paid over the life of the loan. Additionally, for homebuyers, locking in a lower interest rate can make homeownership more affordable.
Refinancing and New Home Loans
Refinancing your existing mortgage at these lower rates can be a smart financial move. By securing a lower interest rate, you can reduce your monthly mortgage payment, which can free up funds for other financial goals. For those considering purchasing a home, the current lower rates can mean more manageable monthly payments, making it an excellent time to enter the housing market.
Take Action
Stop paying high-interest rates on credit cards and consider taking advantage of the current mortgage rates. For personalized advice and to explore your refinancing or new home loan options, contact Sharon, Your Safe Money Lady™ at Protecting Your Nest Egg, Inc. With expertise in financial planning and mortgage solutions, Sharon can help you navigate the process and secure the best possible rates for your situation.
About Protecting Your Nest Egg, Inc.
Protecting Your Nest Egg, Inc. is dedicated to helping clients achieve financial security and peace of mind. As a trusted advisor, Sharon, Your Safe Money Lady™, provides comprehensive financial services and mortgage solutions tailored to individual needs. NMLS #2308601 ensures compliance with all regulatory standards, offering you confidence and security in your financial decisions.
Take advantage of these historically low mortgage rates today. Contact Sharon, Your Safe Money Lady™, and start saving on your mortgage payments and interest costs.
For more information or to schedule a consultation, reach out to:
Sharon, Your Safe Money Lady™
Protecting Your Nest Egg, Inc.
NMLS #2308601
Stop paying high interest rates on credit cards and secure your financial future today!
Warm regards,
Sharon, Your Safe Money Lady™
Protecting Your Nest Egg, Inc.
NMLS #2308601
