This past few months we saw the mortgage rate on the country’s most popular mortgage product the benchmark 30-year fixed-rate mortgage for home purchases –WENT DOWN FROM 4.09 % today last week, AT 3.95 % today this week according to Bankrate.com–and brace yourself, with respect to history, and the all-time low rate trend will continue.
Today’s mortgage rates are still the best mortgage rates ever, but the overseas financial upheaval—along with some assistance from bankrate.com the federal government—is helping to guarantee that these current mortgage rates will stay historically low.
The United States economy is contributing to the trend in current home mortgage rates: the central bank is dealing with a continuing bleak housing market, little job growth, and people unwilling to take the leap to home ownership due to uncertainty.
What does this mean for you? It means that the mortgage rate quotes that we at Avrus Mortgage and Financial can get for you are the best mortgage rates that have ever been available. Current home mortgage rates are connected to treasury yields, and the current European economic crisis is depressing those yields.
So, in a sense, Europe’s bad news is good news for potential homeowners in the United States—the crisis in Europe is ensuring that you can get the best mortgage rates ever available.
With inflation low or declining, some central banks, including those of China, Korea, and Chile, loosened monetary policy to support growth.
Want to find out more? Ask us about what Avrus Mortgage and Financial can do to help you take advantage of today’s low mortgage rates!