Talk of the 30-year fixed mortgage rate falling back below 6% filled the airwaves yesterday, so below we provide a two-year chart of the rate for those that are interested. Even as the Fed Funds Rate has fallen from 5.5% to 1%, mortgage rates have failed to decline along with it, which hasn't done much to help the struggling housing market. Economists and investors are hoping that the Fed's actions yesterday will start pushing mortgage rates lower. This will help ease the credit crisis as banks will become more willing to lend, providing better interest rates for potential homebuyers. 5.81% is better than the 6.4% seen at the start of the month, but the rate could still stand to drop quite a bit.
RATES FROM NOW WILL ALWAYS BE HIGHER
SINCE THE BANKS NEED TO MAKE A LARGER PROFIT MARGIN TO COVER ALL THEIR LOSES
SAME THING HAPPENED DURING THE LAST BANKING FIASCO
IT SEEMS THAT ALL WE DO IS COVER THEIR
MISMANAGEMENT AND STUPIDITY
TIME TO CHANGE THE LAWS AS TO WHO SHOULD QUALIFY TO RUN A BANK
Posted by: abe | November 28, 2008 at 10:48 AM
Having a chart like this is very helpful. It's great to see the visual side of mortgages.
Posted by: Mortgage | December 01, 2008 at 02:22 PM
It seems that all we do is cover their mismanagement and stupidity.
Having a chart like this is very helpful. It's great to see the visual side of mortgages.
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shanebond
Posted by: Fixed Rate ISA | June 12, 2010 at 03:02 AM