Birmingham Loan Rates Drop From Previous Week

Sold Alabaster homeUnless you have enough cash in pocket to buy a home outright, you’re probably going to be looking to get a loan when the time comes.

And here’s some good news from the mortgage industry:

Interest rates for the Shelby Co. and Birmingham area have dropped, compared to a week ago.

Rates for 30-year fixed loans have dropped to around 4.8%, down from around 5.0% at this time last week.

Rates for 15-year fixed loans have also slipped from last week’s 4.3% range to the current 4.2%.

So, what does this mean if you’re thinking of buying a home? Simple: The cost of getting a loan is still extremely attractive.

If you’re considering buying a home in the Birmingham/Shelby Co. area and want to get the purchase financed, your best bet—even before starting to look at homes—is to start talking with a Lender. That way, you’ll be well on your way to having your financing already lined up when you find the home of your dreams!


About David Black

Colleen and David Black love what they do, and that's helping people who want to buy or sell homes in the Birmingham and Shelby Co. area achieve their dreams...

Posted on May 10, 2010, in Real Estate and tagged , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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