Aug 14, 2009
Refinance Home Loan Rates - Interest Rates at 5.3%
AUTHOR: Colin Keller
Refinance home loan rates went for quite an unreal ride last week as they were up .4%. This we have seen interest rates moderate as they have been around 5.3% for much of the week. It is to be expected that after a very volatile week that mortgage rates were going to cool off a little bit. The bad news is that it is likely that we are going to see much higher mortgage rates going into the fall. With treasury yields in a steady uptrend, it seems to be the case that the 30 year fixed mortgage rate is going to start making its way towards 6%.
You have probably seen advertisements on the television and Internet for mortgage rates under 5%. It is not likely that this is going to last so it might be a good idea to go ahead and contact some of these companies in an attempt to get a low mortgage rate. Most of the ads lead to an 800 number where you can contact a representative. Most of the time these representatives are very helpful and will help you get the information that you need.
Congratulations on taking the first step in getting a low mortgage rate. By doing the research you are well ahead of most people in your position. The next step is to get out there and actually contact some of the companies that are advertising low mortgage rates.