30 Year Fixed Mortgage Rates – All Time Lows in December and 2010?
Posted on | November 30, 2009 | No Comments
The average 30 year fixed mortgage rate is currently at an all-time low. The weekly all-time low prior to last week was 4.61%. Currently we are seeing the 30 year fixed mortgage rate around 4.55%. Over the weekend we saw 30 year fixed as low as 4.49%. It will be interesting to see when the data is released just how low mortgage interest rates were for the entire week last week.
If you have been thinking about refinancing or getting your first mortgage now is probably the best time in history. With the government offering tax credits and most mortgage lenders willing to help you gain access to these low rates now is the opportunity of a lifetime. You should not let this opportunity pass you by is it may not last much longer and to 2010.
In March of 2010 the federal reserve bank is planning to stop buying mortgage-backed securities. With this being the case there’s a very good chance that we are going to see mortgage interest rates move higher after the Fed stops buying mortgage-backed securities. You do not want to wait for this to be the case and miss out on the opportunity of all-time low mortgage rates.
This week is going to be very interesting when it comes to mortgage application data. With mainstream news likely reporting all time low mortgage rates that is a good chance that we are going to see a big increase in the number of refinance applications and mortgage applications as a whole.
You do not want to be on the bottom of the stack of mortgage applications when interest rates hit lows we have never seen. It would be a very good idea to go ahead and get your mortgage application and see you do not have to sit and wait for the application to be reviewed. There many lenders willing to help you out so make sure to use them.
If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail. The blog is an account of the journey to find peace of mind and happiness in today’s society.
Author: Heather Best
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