Current mortgage rates for 30 year fixed home loans are as low as 4.875% today with zero buy down points. This is according to our research of wholesale mortgage lenders rate sheets. This rate applies to Conforming, FHA Loan Rates, and Jumbo Mortgage Rates. This is a third opportunity for homeowners who have rolled the dice holding off refinancing waiting for sub 5% interest rates. Interest rates were driven down by strong demand at this week's Fed bond auctions as well as a weak retails sales report released yesterday.
Interest rates are at their lowest level in weeks and with economic recovery on the brink maybe their lowest level for years to come.
The Fed winds down a treasury purchase program that was aimed at keeping mortgage rates low in October. Without government assistance mortgage interest rates may fall to the pressure of economic recovery and rising bond prices. In other words they may spike without help from the Obama administration.
The US Dollar index has been at year highs of late and back the Fed's statement inflation isn't an immediate concern. As inflation goes up bond demand will taper and mortgage rates will rise. How soon that will happen is debated by analysts.
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