Unexpected good news. The rates on 30 year mortgages has fallen to the lowest rates in 10 weeks according to the Wall Street Journal today. This is an unexpected drop as rates for mortgage loans had been going up due to the Federal Government easing their purchase of bonds. If you have been sitting on the sidelines trying to decide if now is the time to buy a home---you should act now if you want low mortgage rates.
Rates today, according to Bankrate.com is 4.24% for 30 year fixed mortgage.
Chart below is from my website, www.SoldBySeven.com, courtesy of BankRate. On my website you can look at the mortgage rates for 30 year, 15 year, 30 year fixed jumbo and 5/1 adjustable rate mortgages.
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