Mortgage Interest rates are currently at the lowest point they have been in two years. Due to the Feds lowering the prime rate, the stock market ticking down, and the declining price of the 10 year Treasury bill, lenders are seeing tremendous pressure to lower mortgage interest rates to stay competitive in the market.  That is great news for house shoppers.  To give you an idea of the savings that creates, three weeks ago a 30 year note on a loan of $180K, the principal and interest payment at 6.125% was $1,093.   Today the same note at our two year low interest rate of 5.500%, the P&I payment is $1022.   A savings of $71 per month or $852 a year!   On a loan amount of $400K, the P&I payment at 6.125% is $2,430.   The same mortgage at 5.500% is $2,271, a savings of $159 per month or almost $2,000 a year!   It is a great time to buy real estate and with the cost of borrowing money being so low, you can’t afford not to buy!  To find out how much you can save in your specific price range and down payment situation, contact the author Jim Bulbrook at jim@carolinahomemortgage.com  for a free no obligation consultation.  Jim is a loan officer at Carolina Home Mortgage.  Haven’t found your dream house?  Find out just how much house you can get in the current market–view homes on line or contact Great Triangle Homes - The Shuping Advantage Team for expert real estate assistance at no cost to you!