Mortgage lenders have recently become more aggressive in seeking out residential mortgage loans. At the same time, interest rates in general, including those on residential mortgages, have fallen sharply.

The willingness to make mortgage loans combined with these lower interest rates presents a unique opportunity for those buying or refinancing.

For example, current rates based on a $300,000 loan (80 percent loan-to-value), assuming a credit score of at least 760, are**:

Duration Percent APR Percent
30-year fixed rate 3.990 4.031
15-year fixed rate 3.125 3.197
20-year fixed rate 3.875 3.932
10-year fixed rate 3.000 3.104
**Interest rates as of 10/27/2014. Rates subject to change without notice.

Adjustable rate loans (ARM) are also available at low rates. However, because fixed rates are so low, the preference of borrowers has been to lock in a low fixed rate over a longer period of time than provided by an ARM.

If there is an interest in refinancing a current mortgage loan or financing the purchase of a house, contact Stephen Barnett, Managing Partner of WhiteKnight Solutions, in conjunction with our residential mortgage partner, Home Mortgage Options (NMLS# 326420). Stephen may be reached at steve@whiteknightsolutions.com.