Positive Signs for Home Buyers as Consumer Defaults fall

By Stevie Duffin Updated on 9/25/2013

With the November 2012 primary approaching, Presidential candidates are continuing to promote their new economic plans to revitalize the economy.  With hope on the horizon, and consumer credit defaults continuing to fall, home mortgage rates are at their lowest default averages with the exception of bank cards. The defaults on first and second mortgages are are new post-recession lows. According to the S&P/Experian Credit Default Indices, New York, Chicago, Dallas and Miami are all seeing consistent decreases in their default rates. There are also new government programs such as HARP 2 Refinance Program which are supposed to further spur up refinance activities.

New home buyers seeking to capitalize on locking in all time low competitive interest rates are doing so, but may have a hard time finding the loan that’s right for them.   

With the mortgage rates decreasing, now is the best time to browse live rates and find a lender that will work with you in this buyers’ market.  Traditional methods of loan quote shopping had home buyers going from bank to bank to see what the most competitive APR was in their area.  This frustrating and time consuming process has become a thing of the past.   For consumers who are looking to capitalize on the current low interest rates and find out more information on rates in their current market please see www.lender411.com.