Home Mortgage Rates – Interest Rates Remain Under 5% for 30 Year Fixed Rates in California and New York
Posted on | May 24, 2010 | Comments Off
Home mortgage rates have been low for the entire year of 2010 and interest rates are currently below 5% for the 30 year fixed mortgage rate in the states of California and New York. It is likely the case that most states are seeing home mortgage rates average below the 5% mark.
It would be wise to contact your mortgage lender and get more verified information before making any assumptions that mortgage rates are at a specific level. By simply contacting your mortgage lender you will likely find their rates are near historically low levels in late May 2010.
Over the next several months it will be very interesting to see how home mortgage rates react to the overall economy. Many analysts predict as the economy recovers that mortgage interest rates will move higher. At the present time, some feel that the economy is going to falter as big Greek debt crisis could hurt America.
No matter what the case home mortgage rates are currently low at the present time. If you have been considering refinancing your current home or taking out your first mortgage now might be the time to take action as Americans could save a significant amount of money with low interest rates.
Author: Alan Lake
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