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Home Mortgage Loan Rates – November Brings Low Interest Rates?

Posted on | October 26, 2009 | 1 Comment

Home mortgage loan rates have been at or below 5% for quite some time.  For the entire months of September and October we have seen the conventional 30 year fixed mortgage rate around 5%.  There have been ebbs and flows above and below but ultimately the benchmark mortgage rate continues to remain at 5%.  Will November bring lower interest rates or will things turn around?

November is one of the slower months when it comes to the mortgage market because most families are concerned with their children’s school and they are beginning to think about the holidays.  In all reality, the common American does not want to think about finances in the months of November and December.  They want to think about vacation and the joy of the holidays.

With that being said, mortgage rates will continue to go up and down during this period of time.  The Federal Reserve Bank has been doing everything in their power to keep mortgage interest rates low over the last year.  By purchasing mortgage backed securities as well as US Treasuries the Fed has been very successful in keeping mortgage rates around 5%.

In November the Fed will no longer be buying US Treasuries but they will continue to buy mortgage backed securities.  This is going to make it very interesting for mortgage rates.  It is highly unlikely that we are going to see mortgage rates shoot all the way up to 6% but there is a good chance that an up trend in treasury yields could help push mortgage rates well above 5%.

If you have been thinking about refinancing or buying your first home now is one of the best times ever to lock into a low mortgage rate.  There are many major lenders and banks that are advertising mortgage rates well below 5%.  Obviously everyone is not going to qualify for a mortgage rate under 5% but you could stand to greatly benefit from a home refinance.  Take advantage of these low mortgage interest rates and refinance today.

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Author: Jesse Wojdylo

Category: Home Mortgage Loan Rates

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One Response to “Home Mortgage Loan Rates – November Brings Low Interest Rates?”

  1. home mortgage – YouTube – Consumer Mortgage Resources – Making Home Affordable
    January 21st, 2010 @ 11:06 pm

    [...] Home Mortgage Loan Rates – November Brings Low Interest Rates? [...]

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