How Low Will Mortgage Rates Go in 2010? Interest Rates Below 4.25%?
Posted on | December 1, 2009 | 1 Comment
How low will mortgage rates go in 2010? This is a question that many current and future home owners are asking. With the 30 year fixed mortgage interest rate at 4.55% just how much lower can mortgage rates go? Well, in all reality, they can go as low as the Federal Reserve Bank wants to push them. Since March of 2009 the Federal Reserve Bank has been working very hard to keep interest rates low.
All time low mortgage interest rates is something you are going to hear a lot in the next few months as the Federal Reserve Bank plans to buy mortgage backed securities through March of 2010. There is no guarantee that this will continue to push mortgage rates to new all time lows but it is something that is very likely. President Obama and his staff have worked very hard to allow home owners to have the opportunity to refinance at lower mortgage interest rates and this is likely to continue into the first quarter of 2010.
If you have been thinking about refinancing or buying your first home now might be as good of a time as any to start the process. The 30 year fixed mortgage rates is at levels we have never seen before and locking into a 30 year fixed under 4.75% is something that almost any American would desire. Do not let this opportunity pass you by as you may never see mortgage rates this low again after the Federal Reserve Bank takes their hand out of the pot (March?) when it comes to buying mortgage backed securities.
Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.
Author: Alan Lake
Comments
One Response to “How Low Will Mortgage Rates Go in 2010? Interest Rates Below 4.25%?”
Leave a Reply
April 20th, 2010 @ 8:32 pm
It was very low for a while and now increased a little, but then the economy so bad. Whoever has the cash, will just want to save it in the bank, in case of “rainy days”!