Portland Mortgage Broker

Portland mortgage rates have been hovering at multi-decade lows since the Treasury announced their plans to buy up to $500 billion in mortgage securities by June 30, 2009. As a result, mortgage rates in Portland have plummeted. The lowest point as of this writing (January 2, 2009) occurred on December 17, when a plain vanilla 30-year fixed mortgage could be secured at a rate as low as 4.375 throughout the greater-Portland area. That is literally the lowest rate ever in the history the modern mortgage!

This really changes the landscape of home financing in Portland. On the average Portland mortgage, the difference in rate from 6% to 5% is enough to save almost $180 per month. For every 1/8 of a percentage point beyond that, an additional $20/month is saved.

If you have any questions about how this dramatic reduction in rates could impact you personally, please give me a call right away. I will be happy to put together a no-obligation analysis of your current financial situation, and see how much you would benefit by reducing the cost of financing your Portland-area home.