December 18th, 2009 
admin 
Mortgage interest rates are down significantly today to the degree that the 30 year fixed rate mortgage is currently around 4.52%. This comes on very little volume as mortgage rates on the weekend are not highly active. With most lending institutions and all financial markets closed we should not take these lower mortgage rates too seriously. Even if they pop back up to around 4.7% it is still a great time to refinance today.
When 2010 rolls around there is little misgiving that there is going to be a swell of mortgage and refinance applications. Every single year the interest in refinancing spikes throughout January before settling back down. This is likely to be the case again this year but there is an added incentive to home owners – all time low mortgage rates! The all time low for the 30 year fixed mortgage rate was set at the period of November when the 30 year fixed was at 4.49%.
If we see another strong move down this week then we could very well see all time low mortgage affect rates as the new year hits. If we see all time low pledge rates in Janurary there is a very good chance that we could see the “Refi Boom” that everyone has been talking about; it should be a fun December and January!
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Tags: Interest Rates, Mortgage Interest Rates, Significantly Today, Today