Aug 14, 2009
30 Year Fixed Mortgage Rates - Interest Rates Drop This Week
AUTHOR: Colin Keller
30 year fixed mortgage rates went for a crazy ride last week but they have seemed to stabilize this week. Interest rates saw a huge rise because the move up in the 10 year yield last week but now we have seen a pull back and interest rates have dropped this week. The government continues to believe that interest rates will remain low but we will see what happens. If you look at the charts, it sure does look like mortgage rates are going to move up in the near future. Now might be the time to refinance or buy that first home.
You have probably seen advertisements all over the Internet and television for companies who are offering mortgage rates under 5%. While many of you may believe that it is impossible to get an interest rate this low, you will never know until you actually contact them and ask. Most of the ads lead to an 800 number where you can speak to a representative. It would not hurt to at least give them a call and see where mortgage rates are headed. Being a first time customer you might get an unbelievable deal.
Congratulations on taking the first step in getting a lower mortgage rate. By doing the research you are well ahead of most people in your shoes. The next step is to get out there and actually contact some of the mortgage lenders who are offering low mortgage rates!