Lowest Rates Since the 1950s

Rates for home mortgages continue to drop, with reports this week indicating that these are the lowest rates since the 1950s. The Federal Reserve released a chart this week indicating that the current rate of 4.58% is the lowest in 60 years. After the Fed report, rates fell again to 4.57%, making this an ideal time to refinance your existing home loans or to finalize a purchase to take advantage of these historically low rates. The reported rate is even more astounding when compared to the mid 1980s when rates soared to over 18%. These are the lowest rates that most of us have seen in our entire buying lifetimes.

Data from Federal Reserve, July 6, 2010

About missionmortgage

A full-service professional mortgage banker providing lending in Texas for over 25 years. Our main office is located at 901 S. Mopac Expwy, Barton Oaks V- Suite 120, Austin, TX 78746 with branches in Lakeway, Houston, and Sealy. Mission Mortgage has been ranked as a Top 10 Mortgage Company in Austin for the past 7 years (Austin Business Journal).
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