Now is a great time to purchase or refinance if you haven’t done so already. Rates on 30-year mortgages have fallen since last spring to the lowest levels in decades. The rate decline is largely a result of investors shifting money into the safety of government-backed Treasury bonds, lowering their yield. Mortgage rates tend to track bond yields.

Mortgage Industry Trends
Mortgage buyer Freddie Mac compiles historical data on average mortgage rates across the industry, called the weekly Primary Mortgage Market Survey (PMMS). The data from that survey illustrates the current trend in rates:

• 30-Year Fixed-Rate Mortgages: For the week of April 8, the industry average for a 30-year fixed rate mortgage was at 5.21 percent. Last week (October 14), the rate dropped to 4.19 percent. That’s a historical low dating back to 1971.
• 15-Year Fixed-Rate Mortgages: For the week of April 8, the industry average for a 15-year fixed rate mortgage was at 4.52 percent. Last week (October 14), the rate dropped to 3.62 percent. That’s the lowest on record dating back to 1991.

Mortgages with LSB!
Contact LSB for actual rates and to determine if a refinance is right for you. We have a staff of experienced mortgage experts eager to help, and you can be assured they will be diligent in putting you in a mortgage program you can afford. Or, visit www.LSBmortgage.com to apply online.

LSB Mortgage
999 Home Plaza, Suite 301
Waterloo, IA 50701
Phone (319) 433-3777