Interest rates have dropped again!

Mortgage rates are at their lowest since Spring 2004.

It’s a great time to talk about purchasing a home because interest rates continue to drop��"and ERA Mortgage is offering homebuyers the opportunity to obtain reliable financing at exceptionally affordable rates.

If your customers finance their home now while rates are low, they can save hundreds of dollars a year (or more), according to Freddie Mac’s January 24, 2008 Primary Mortgage Market Survey:¹

The average principal and interest payment on a $250,000 loan has dropped by $193.54 per month since August 3, 2007. ²

And, there’s more good news:

·         The 30-year fixed rate mortgage averaged 5.48% with 0.4 points²

·         The 15-year fixed rate mortgage averaged 4.95% with 0.4 points²

·         The 5/1 ARM averaged 5.13% with 0.4 points²

·         The 1-year ARM averaged 4.99% with 0.6 points²

The following chart shows the movement of interest rates over the past 12 months:

ERA Mortgage is a lender that your customers can trust.  

Get the word out! ERA Mortgage is dedicated to finding the right mortgage to meet each customer’s specific financial needs. With rates this low, now is the ideal time for buyers to obtain home financing from ERA Mortgage.

Visit www.eramortgage.com or your local mortgage advisor today for more information.

1. “January 24, 2008 Primary Mortgage Market Survey (PMMS),” Freddie Mac, McLean, Virginia.

2. Calculations based on the Freddie Mac average 30-year fixed rate mortgage on August 2, 2007 (6.68% with 0.3 points) versus the Freddie Mac average 30-year fixed mortgage on January 24, 2008 (5.87% with 0.4 points).