The nation’s average mortgage rates are at the lowest levels more than six months.

According to Freddie Mac, last week the average 30-year fixed-rate mortgage was 6.40 percent; this week, that same mortgage sits at 6.31 percent.
The last time mortgage rates were this low was in early March when they were at 6.24 percent.

It is hard to believe that just over 2 months ago mortgage rates were at a four year high when they peaked at 6.80 percent on July 20.

Many are taking advantage of the low rates for mortgage refinance loans to try to lower their monthly payments and many first-time homebuyers are able to afford “more house” due to the lower mortgage rates.

Now that most financial analysts are thinking that the slowing economy will keep inflation in check, the feeling is that interest rates will hover around their current levels for the remainder of 2006.

Posted by Moderator on Monday, October 2nd, 2006 at 4:45 pm.

The nation’s average mortgage rates are at the lowest levels more than six months.

According to Freddie Mac, last week the average 30-year fixed-rate mortgage was 6.40 percent; this week, that same mortgage sits at 6.31 percent.
The last time mortgage rates were this low was in early March when they were at 6.24 percent.

It is hard to believe that just over 2 months ago mortgage rates were at a four year high when they peaked at 6.80 percent on July 20.

Many are taking advantage of the low rates for mortgage refinance loans to try to lower their monthly payments and many first-time homebuyers are able to afford “more house” due to the lower mortgage rates.

Now that most financial analysts are thinking that the slowing economy will keep inflation in check, the feeling is that interest rates will hover around their current levels for the remainder of 2006.

Posted by Moderator on Monday, October 2nd, 2006 at 4:45 pm.