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Current Fixed Mortgage Rate Review

Current Fixed Mortgage Rate Review

Author: Coman Goodson

Mortgage rates experienced a sharp decline we have seen on the peed from the last few weeks. Current fixed mortgage rate has come down from the peak intensively in June 2009. The most obvious thing to this is that the world economy in general and in particular the U.S. economy showing signs of recovery end. Some economists even say that we have not seen the bottom yet! US Treasury rates have decreased significantly with increasing poverty. Federal Reserve Bank does not want to touch interest rates in the near future. This situation may be to keep the Fed funds target rate between zero percent and one-quarter of a percentage. The U.S. economy is unlikely to rebound quickly. Even the European Union also move estimates for economic recovery until late 2010 or early 2011. In the last month in mortgage interest rates for 30-year mortgages remain close to six percent, and today they are back to almost five percent. The average 30-year fixed mortgage rate at 5.20 percent. This price is much lower than 5.40 percent from the previous weeks. The average re-finance mortgage rate is also stable at 5.20 this week. And the 15-year fixed mortgage has a lower price this week. They are currently at 4.72 percent, sharp decline from 4.87 per cent from the previous week on average. With historically low current fixed mortgage rate, largely a response to government intervention as the purchase of more than $ 1.4 trillion in mortgage-related debt, helping to restore stability in the hard-hit U.S. housing after three years of diving. Nine million more Americans may be eligible for refinancing with President Obama Making Affordable Home Program. High unemployment and fear of job loss of appetite have been held, although interesting homebuyer loan costs and discount house prices, Department of Labor reported that the unemployment rate fell to 10 percent in November from a high 26-1/2-year from 10.2 percent in October.About the Author:

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