RateAPY

Mortgage Rates Continue To Drop

Posted by: RateAPY Bank Rates News
March 12th, 2010

For months economic analysts have predicted that mortgage rates will go up starting in the month of March because the Federal Reserve is winding down its mortgage backed securities (MBS) purchase program. At least for the present, the opposite seems to be true. Mortgage rates improved again this week. According to the Freddie Mac Primary Mortgage Market Survey (PMMS), the average conforming 30 year fixed mortgage rate was 4.95% with 0.7% points this week.

Take advantage of today’s low mortgage rates. Consider refinancing your adjustable rate mortgage into a low fixed rate. If you already have a fixed rate, refinance to a lower fixed rate and save potentially thousands of dollars over the life of the loan. If you are interested in purchasing a new property, you may be eligible to receive thousands of dollars from a government tax credit program. Contact a mortgage lender today.