Representatives from the Department of Housing and Community Renewal and State of New York Mortgage Agency also attended.
Mortgage rates are lower than they have been is while.
That means that it is a good time for first home buyers to shop around for the best rate and for homeowners to refinance. The Banking Department provides comparative information for consumers by making interest rate surveys available on mortgage loans, home equity loans and lines of credit, and new and used auto loans. Each survey contains rate information for various financial institutions in several different geographic markets. The information in the survey is intended to provide consumers with a frame of reference when shopping for certain types of loans. The decision to buy a home must be made very carefully and thoroughly.