Much has been said about the rise in mortgage rates over the past few weeks. Market participants are worried that the Fed's actions are not working, and that this will impede already fearful potential homebuyers from making purchases. Below is a historical chart of the national average 30-year fixed mortgage rate. After making a ten-year low in late April at 4.85%, rates have jumped 50 basis points to 5.35%. The jump is significant, but 5.35% is still extremely low compared to the 10-year average. Unfortunately, the direction of rates seems to impact consumer psychology more than the actual level.
Subscribe to Bespoke Premium to receive more in-depth research from Bespoke.
I'd love to see a chart of the 30-yr rate against the 20-market Case-Shiller.
Posted by: Macstibs | June 04, 2009 at 02:01 PM
Great rates for now!
http://www.denverhomemortgage.us
http://www.coloradomortgage.me
http://www.littletonmortgage.info
Posted by: Colorado Home Mortgage | June 29, 2009 at 06:08 PM
Whoa, mortgage rate is really going down!
-James
Posted by: investment property rental mortgage advice | November 26, 2009 at 01:21 PM
Good to see mortgage rates low, sad to see pensioners hit by savings rates and the banks seem to be making profits from others suffering.
Posted by: Liz@buytoletmortgages | December 01, 2009 at 02:23 PM
The rates are down but for how long?
Posted by: VA Refinance | March 10, 2010 at 10:39 PM