Home Mortgage Refinance Loan Rates – Fixed 30 Year Interest Rates Settle at 4.75% on December 15
Posted on | December 15, 2010 | No Comments
Home mortgage refinance loan rates continue to go for a wild ride as the 30 year fixed mortgage rate is around 4.75% on December 15, 2010. In just six short weeks the 30 year fixed rate has moved from 4.0% all the way up to 4.75% as the 10 year treasury rate yield has moved up very quickly as well. This could be very bad news for those looking to save money by refinancing.
Over the last several decades it has been the case that the 10 year treasury rate yield and a 30 year fixed mortgage have had a very strong correlation. Since 1971 this has been the case and this correlation will likely strengthen in 2011 is the federal reserve bank slowly eases their monetary policy when it comes to keeping interest rates low.
As the economy recovers it will likely be the case that interest rates start to move up. With a large number of Americans looking to take advantage of low home mortgage refinance loan rates it will be very interesting to see what happens when it comes to mortgage activity during the early part of 2011.
It is generally the case that the end of the year is one of the slowest times when it comes to refinance or mortgage activity due to the fact that people are more concerned with spending time with family and giving Christmas gifts for the little ones. With that being said, there many New Year’s resolutions related to personal finance and it could be the case that a large number of people are looking to save money in January or February of 2011.
No matter what the case there are still opportunities to save money for those who have improved their financial situation. By making strong financial decisions over the last several months and years many homeowners will position themselves very well when it comes to locking in the lowest possible home mortgage refinance loan rates in the near future. Luckily, there are many free resources available online from mortgage lenders to help these individuals.
Author: Jeremy North
Tags: 30 year fixed rates > fixed home loan rates > fixed interest rates > Home Mortgage Loan Rates > home mortgage refinance loan rates > mortgage refinance rates > refinance fixed interest rates
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