A Great Time To Buy
or Refinance a Home!
For Immediate Release
Baton Rouge, LA - October 1, 2012
It is a great time to buy a home or consider refinancing your existing mortgage. "Fixed mortgage rates have continued to decline, largely due to the Federal Reserve's purchases of mortgage-backed securities to try and stimulate the economy," according to Ron Moreau, vice president of business development and community relations for the Campus Federal.Rates on fixed home mortgages dipped to record lows last week, hitting levels most industry experts believed they'd never see. Mortgage rates are at a national all time low around 3.5% for a 30-year fixed rate, which is the lowest since long-term mortgages began in the 1950s.
"As far as I'm concerned, renters may want to look at purchasing," Moreau said. "In many cases they may be able to buy a home for the same price they're now paying for rent, or close to it." Rates have been at historically low levels for months and refinance activity is dominating the home loan market.
In a recent news story, "Mortgage rates hit all-time low," Rob Krieger, WBRZ news reporter asked Moreau, "Do you expect rates to go unbelievably lower?" Moreau responded, "I don't think the rates are going to go unbelievably lower, as we've been in this rate environment for a long period, but we are historically low, but I couldn't even guess how long we will stay in this low rate environment."
For more information on mortgage loans, contact Campus Federal Credit Union at (888)769-8841.
About Campus Federal Credit Union
Campus Federal (www.campusfederal.org) is a progressive financial organization providing flexible, competitive financial and related products to meet member needs at high levels of quality and service. Formed in 1934 by seven employees of Louisiana State University, Campus Federal is financially sound with over $480 million in assets and has over 40,000 memberships and eight (8) locations in Baton Rouge, New Orleans and Shreveport.