U.S. Mortgage Rate Fall From 8 Month High

For the first time in 5 weeks mortgage rates have fallen and backed off an 8 month high, yet still historically low. Spring selling is around the corner so rates will have to be attractive to assist in sales.

30 year fixed rate is at 5.07% down from 5.21% 8 month high. However, it’s still up from a year ago when rates were 4.71% an all time low.

Government incentives will be ending soon, notably the $8000 first time home buyer tax credit and the $6500 credit for home owners buying new houses, which will slow housing markets recovery.

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Tags: Mortgage Rates

This entry was posted on April 15, 2010 at April 15, 2010 and is filed under Housing Market. You can follow any responses to this entry through the RSS 2.0 feed.