If you decide to apply for a mortgage in order to purchase real, you should know that there could be no better time: in 2016, it looks like mortgage rates have reached a historically low level. Experts say that this is a common tendency of the past years and taking this into consideration, it seems that home ownership has become something extremely attainable. This is a huge plus for a lot of people who would have never afforded to pay high rates for a long period of time. For this reason, low mortgages are more and more relevant when it comes to choosing a lender. But how can you actually get the lowest rates and which are the variables that influence this important aspect of the mortgage world? Read on and find out, so that you can make an informed decision.

Why are mortgage rates so low at the moment?

Currently, mortgage rates reach a point below 4%, which is quite strange for the dedicated business. As a matter of fact, this level is the lowest from the latest decades and this is determined by several political and economic factors. All these, corroborated, affect the real estate and mortgage industry, benefiting those who are planning to invest in this sector in the following period. Some of the most relevant things that have made mortgages Merrickville easier to obtain nowadays are government policies, the international state of economy as well as investors’ demand for safer assets. Apparently, the authorities are trying to stimulate slow investments in order to streamline economic recovery, while buyers are no longer willing to pay for real estate that does not reach their standards of quality. Basically, this is how prices tend to decrease and lenders accept to lower their expectations.

How to buy great properties with low rates?

Given the general context of the real estate market, it seems that at the moment you could make sustainable investments without paying too much money. In addition to this, you can even lower the mortgage rate even more (up to 3,5 %) if you use advice from an expert. Of course, your credit score is extremely relevant; because this can help you find a bank to accept your demand for low rates. For this reason, you should strive to improve your score with some time in advance before actually applying for a mortgage. On a long term, this will be the best choice you could ever make.