Mortgage rates are the lowest they have been in decades for individuals who can qualify for loans.

According to a report by Freddie Mac Thursday, those who have secure jobs, good credit, and strong finances can do better than a 4.54 percent average rate. The latest rate is the lowest rate for a 30 year fixed loan since 1971. This is the fifth time in six weeks that the mortgage company has reported hitting a new average low.

It is possible to get an even lower rate if a borrower contributes more than 20 percent to the down payment. Often the best rates are offered by community banks or credit unions, as they keep mortgages on their books instead of selling them to investors.

If you need a legal professional to help you make sure your mortgage modification is a reliable operation to improve your financial situation, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C., by calling 443-546-4608 today.