Mortgage Articles

Wednesday, July 19, 2006

Mortgage rates have been declining for two weeks now! The average 30 year fixed rate has dropped by two basis points and the average 15 year fixed by almost 7 basis points.

This was a chain reaction triggered by the weaker than expected employment figures that were published last week, signaling a weakening economy an fueling a flight to quality, in the that investors started shifting money into the bond market pushing the price of bonds higher and the rates lower.

The fed has been trying to curb an overheated economy by raising the fed funds rates that have so far had little effect on the mortgage rates; however the housing market did slow down with the rising home values and the uncertainty about the future of the economy.

Home affordability is down not because of the mortgage interest rates but mostly because; despite the low rates buyers can not afford the payments.

Mortgage Calculators offered on this site can help you with all real estate purchase and refinance calculations.




 

 

 



For a complete analysis of purchase and refinance go to this mortgage calculator set. 
 
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