Current Mortgage Loans & Rates : 30-Year Fixed Mortgage Loans Back Below 5%, Lifting Demand...

Recent comments:
I wonder what the current mortgage rates are.
Does anyone know the current mortgage interest rate figures right now?


According to several recent stories, the interest rates for 30 year fixed mortgages are below 5 % once again, fueling the demand for home ownership. The rates dipped to right at 4.97 percent.

The 15 year mortgage rates have dipped to 4.33 percent. When the price of owning a home begins to look more appealing, expect the demand to go up accordingly.

Surprisingly, this is all taking place during a time when it has been announced the government is actually putting together a new plan: One that will ask homeowners to leave their homes. This is a significant change of strategy, because not too long ago, President Obama tried to do whatever he could to make sure homeowners stayed in their homes.

That plan, which did not turn out too well for any number of reasons, has led the government to look at the problem from another perspective. So many people have been walking away from their overpriced homes they owe money on, that it seems like the common sense thing to do.

This will allow the owners to sell for less than they owe. That way, they have cash to work with during their difficult times.

The program is supposed to launch on April 5th, and for those who were not helped by the loan modification program, they can go through this "short sale" process to free themselves from the debt.

This is supposed to be good for everyone involved, and when the home is sold, everyone is to get a piece of the profit. The owner is said to be entitled to around $1,500 for relocation expenses.

It's all a complicated but necessary approach. What else can be done? What do you think will happen once the program is implemented?






Recent comments:
What are they for a fixed right now?
What will that look like for the 0 year?
What about if we want to refinance.
Have you gotten an answer from the bank yet?
I know California is in pretty bad shape, but what do the rates there look like?


If we live in VA, what can we expect to pay?
I have been trying to get a loan for the longest time.
That's a pretty good deal for living in Florida.
Living in Massachusetts, you probably can't get a better deal.
What does the term jumbo mean when you're dealing with mortgages?

What will we probably pay living in Illinois?
I don't have any idea what the rates in NJ are.
If I live in PA. and I want a loan, what can I look forward to paying?
New York is a great place to live, but I don't know about buying a home.
What will the cost look like with the Interest only?

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