Aug 14, 2009
Home Mortgage Loan Rates - Interest Rates Drop to 5.2%
AUTHOR: Colin Keller
Home mortgage loan rates saw a huge jump last week but have pulled back greatly this week. Mortgage interest rates are currently at 5.2% and have been falling all week. Much of this is due to the fact that the Federal Reserve Bank has continued to say they are going to keep interest rates low. With mortgage rates near historically lows, it might be one of the best times in history to refinance or buy a new home. Anyone that has been on the fence would be smart to start the mortgage application process.
You have probably seen advertisements all over the Internet and television for companies that are offering mortgage rates under 5%. You might think that you really don’t have a chance at getting mortgage rates this low but you will never know until you actually call and find out what you qualify for. Most of the ads direct you to an 800 number where you can speak to a representative. You might not want to tell the representative your entire life story, but it might be a good idea to at least call and ask some generic questions.
Congratulations on taking the first step in getting a lower mortgage rate. The next step is to get out there and actually contact some of the mortgage lenders that are advertising low interest rates. You will never know what type of deal you can get until you actually call and ask!