Aug 6, 2009
30 Year Fixed Mortgage Rates Move Towards 5.5%
AUTHOR: Colin Keller
The 30 year fixed mortgage rate has been in a very narrow range for quite some time but it looks to be breaking out to the upside. This is very bad news for those of us who wanted to refinance or get our first mortgage. Luckily there is still some time to get in before interest rates start making their way towards 6% but that time is getting much more limited than it once was. Just a week ago there were analysts predicting mortgage rates to go under 5% and now we are starting to see mortgage rates push much higher!
It is highly like that you have seen many mortgage lenders advertising mortgage rates under 5%. While it is possible that you cannot get rates these low, you will never know if you do not contact the lender and find out for yourself. Most of the ads lead to an 800 number for you to contact a representative. It doesn’t hurt anything to go ahead and give them a call and see what types of mortgage interest rates are floating around out there today. You never know, you might call at the perfect time and get offered a very low rate.
Congratulations on taking the first step in getting a low mortgage rate. Even though mortgage rates might be headed higher, if you act immediately and call some mortgage lenders and banks you might be able to lock in at a rate that is still historically low.