Home Mortgage Rates – 15 Year Fixed Mortgage Rates Approaching 4% in Late May 2010
Posted on | May 25, 2010 | Comments Off
Home mortgage rates have been extremely low for the entire year of 2010 but we could be seeing historic lows in the very near future. At the present time we are seeing 15 year fixed mortgage rates approaching 4% in late May 2010. Any drop below 4% would be very significant when looking at mortgage interest rate charts.
Over the last several weeks we have seen mortgage rates drop due to the fear of the European debt crisis. As the European debt crisis continues to be an issue treasury rate yields are dropping which in turn means mortgage rates will drop and the very near future.
The 10 year treasury rate yield and 30 year fixed mortgage rates have had a very strong correlation since 1971. In 2010 that is very unlikely to change which means that home mortgage rates could drop as the European debt crisis escalates. Unfortunately, the European debt crisis is also hitting the United States stock market.
With home mortgage rates getting very close to all-time lows now might be a great time to consider locking in to your first mortgage interest rate. If you are currently already locked into a mortgage rate it might be wise to consider refinancing in the very near future.
Author: Alan Lake
Tags: 15 year fixed mortgage rates > 4% mortgage rates > fixed mortgage interest rates > home mortgage interest rates > home mortgage rates > mortgage interest rates > mortgage rates