RateAPY

Current Mortgage Rates Have Dropped

Posted by: RateAPY Bank Rates News
January 8th, 2010

After hitting a low of 4.71% with 0.7% points on December 3, 2009, mortgage rates for the average conforming 30-year fixed home loan steadily increased for four weeks. This week, for the first time in over a month, mortgage rates have come down. According to the January 3, 2010 Freddie Mac Primary Mortgage Market Survey (PMMS), the average conforming 30-year fixed was 5.09% with 0.7% points. This is a .05% improvement over the previous week’s report.

Low Mortgage Rates Create Refinance Opportunities

If you are considering a refinance of a home loan, or if you are in the market to purchase a new property, the current mortgage rates will benefit you. If you’re in the market to purchase a new property, low mortgage rates help make it more affordable. If you’re refinancing your home loan, low rates mean that you get the maximum benefit available. Get a mortgage quote today.