Home Mortgage Refinance Loan Rates – Lowest Rates in October Could Be Gone as Trends Point Higher
Posted on | October 20, 2010 | No Comments
Home mortgage refinance loan rates were the lowest levels in history in early October but is the end of the month is nearing it could be the case that trends are pointing towards higher 30 year fixed rates. We have recently seen the 30 year fixed rate bounced slightly off its lows to 4.25%. This is still very low when looking at historical charts.
The federal reserve bank is taking the necessary steps to make certain that interest rates stay low for an extended period of time. Unfortunately, this is eventually going to stop and interest rates are likely to move higher. The Federal Reserve has been adamant about keeping interest rates low until the economy has greatly improved.
With that being said, it will likely be the case that the overall economy will greatly determine interest rates. If the economy improves and the very near future than we could see the Federal Reserve Bank take its foot off the gas and allow interest rates to start moving higher. With this being true we will likely see 30 year fixed mortgage rates move back towards 5% and possibly even 6%.
Author: Mike Garner
Tags: Home Mortgage Loan Rates > home mortgage refinance rates > lowest mortgage interest rates > lowest refinance mortgage rates > mortgage rate trends > Refinance Home Loan Rates > refinance loan rates
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