Mortgage rates continue a push downward early this week, challenging the all time historic lows set a few months ago. This week mortgage rate movement will be based on a few key pieces of data being released, any worthy news coming out of the FOMC meeting that begins tomorrow and any new news coming out of Europe.

Putting Mortgage Rates Into Perspective

Since it is quite easy to hear how low mortgage rates are but not understand how low they are in a historical context, we have been hard at work creating some charts that we will be releasing in the coming weeks documenting the history of mortgage rates. Sometimes it take a chart to truly understand how low and historic the mortgage market we are in is.

History of United States Mortgage Rates

Economic Calendar for Week of December 12, 2011

  • Monday – Treasury Budget
  • Tuesday – Retail Sales, Business Inventories, FOMC Meeting Announcement
  • Wednesday – Import and Export Prices
  • Thursday – Jobless Claims, Producer Price Index, Industrial Production, Philadelphia Fed Survey

Mortgage Rates and the Best Program For Your Needs

We commonly speak with homeowners that are confused about which program is best for them or what size loan they qualify for. We also find that many are confused about rate locks and when and if they should lock in their mortgage rate.

If you need a free professional consultation to put together a mortgage strategy that fits your needs the best, we can help. Now is a critical time to learn about your options if you are on the fence or unsure about what move, if any, you should make in regards to refinancing your existing or locking in a rate for a new mortgage. Mortgage rates are at historical all time lows, don’t miss the opportunity to take advantage of this unique market!