30 Year Fixed Mortgage Rates – Chase Mortgage Rates Trend Lower
Posted on | February 26, 2010 | No Comments
The average for 30 year fixed mortgage rates continues to trend lower as February concludes. Chase mortgage rates have been low for the entire year of 2010 and it looks as if things are not going to change by the beginning of March. Conventional 30 year mortgage rates are currently around 4.8%.
The CEO of J.P. Morgan Chase, Jamie Dimon, recently stated that Chase was adjusting their strategy to profit in a higher interest rate environment but it does not look like that is going to be the case until at least late March. Many analysts agree with Dimon and feel interest rates are going to move higher.
The Federal Reserve Bank is planning to stop their mortgage backed securities purchase program which is likely to push mortgage rates up at least .5%. This purchase program will end on March 31st, 2010. It will be very interesting to see how mortgage rates react to this in the month of March.
All mortgage lenders continue to market low mortgage rates so please to not limit yourself to just Chase. Make sure to contact some local and national mortgage lenders so you can get the best service possible with very competitive rates.
Author: Alan Lake
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