Friday, July 2, 2010

Mortgage rates drop again, and again, and again....

In case you haven't noticed, mortgage rates dipped again for the 6th straight week. Freddie Mac's weekly report said teh 30 year rate slipped to 4.87% last week. This puts them at the lowest levels in about 50 years. Everyone is nervous about the sustainability of the economic recovery and this is driving down demand for money and reducing the threat of underlying inflation. The low rates are also spurring a surge in mortgage applications - up 15%. If you have questions about your rate or your mortgage, give us a call.

John Graham, at Neighborly Financial Mortgage, in Roseville, California.

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