Freddie Mac reports a drop in the 30-year fixed mortgage rate to an all-time record low of 4.78 percent during the week ended April 30 from 4.80 percent the prior week. While the 15-year fixed mortgage rate held steady at 4.48 percent, the five-year adjustable mortgage rate dipped to 4.8 percent from 4.85 percent. The one-year ARM slipped to 4.77 percent from 4.82 percent. It would seem that there is no bottom to Nashville mortgage rates, but we know that there must be so I would refinance that high rate mortgage this go around.
Seriously, it you are considering refinancing your Nashville home loan, do it very soon.