30 Year Fixed Mortgage Rates – 15 Year Fixed Mortgage Rates Trend Lower
Posted on | March 9, 2010 | No Comments
The average for 30 year fixed mortgage rates and 15 year fixed mortgage rates continues to trend lower. Over the course of the last three months we have see 30 year fixed mortgage rates at or below 5%. It also seems to be the case that 15 year fixed mortgage rates are stuck on 4.25%.
Over the next few weeks it will be very interesting to see what happens with mortgage interest rates. The Federal Reserve Bank is going to stop purchasing mortgage backed securities at the end of March which is likely to push mortgage rates higher. No one knows for sure how high they will go but there is a good chance we could see rates move up by one full percentage point.
Most mortgage lenders have marketed this low interest rate environment very hard so it should not be difficult to find a lender that is willing to offer low rates. It might be a wise decision to start taking the steps to completing the application process sooner rather than later. The longer homeowners wait the more of a chance there is for higher mortgage rates.
Any major financial decision is extremely important but when a home is involved that importance is even greater. Make sure to step back and look at the big picture before making any final decisions when it comes to buying a home or refinancing.
Author: Mike Garner
Comments
Leave a Reply