Lowest Mortgage Interest Rates of 2010 Reported by Zillow.com on July 23rd, 2010
Posted on | July 23, 2010 | No Comments
The lowest mortgage interest rates of 2010 are currently being reported by Zillow.com. We recently reported that the 30 year fixed mortgage rate is at 4.34% while the 15 year fixed mortgage rate is at 3.88%. By looking at the historical mortgage rates chart provided by Mortgage-X it is clearly visible that todays 30 year and 15 year fixed mortgage rates are at the all time low.
Even though mortgage rates remain well below 5% we are still seeing existing home sales struggle. Yesterday, the National Association or Realtors reported that existing home sales dropped by 5.1% to 5.37 million. Much of this drop continues to be the government pulling off the band-aid that was the first time home buyers tax credit.
As the weekend rolls around many many newspapers and media outlets will likely pick up the story that mortgage interest rates are at the lowest levels in history. With a little bit of publicity from local newspapers around the country it might help to encourage first time home buyers to at least consider a new home in the near future. Only time will tell if home sales will pick up but the future does not look bright at the moment.
Author: Tiffany Mann
Tags: interest rates > july 23 mortgage rates > lowest interest rates > lowest mortgage interest rates > lowest mortgage rates > lowest rates > mortgage rates > zillow.com mortgage rates
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