Mortgage Rates at 52 Year Lows - Even those with Poor Credit Benefit
On March 26, 2009, CNN.com reported that mortgage rates are at 52 year lows.
What does this mean for you? First, this means this is one of the best times in history to get low mortgage rates. In addition, on March 4, 2009, Obama's team released details of Obama's loan refinancing and loan modification program called "Making Home Affordable" which gives incentives to both borrowers and lenders to help make it easier for you to modify or refinance your mortgage.
Obama's plan is expected to help as many as 9 million struggling borrowers and works by subsidizing interest rate reductions to help borrowers refinance to more affordable monthly payments. or special mortgage refinance offers.
This comes with the announcement that the Federal Reserve is more than doubling its planned purchases of mortgage- related securities. So if you are considering a new home loan or have been waiting on the sidelines for low rates to refinance, 52 years of history tells you now is the time. Take advantage of our mortgage refinance lender matching service to find quotes from competing lenders in the box to the right.
Tap into our to search for a new home mortgage loan, mortgage refinance, or home equity loan mortgage quote from our large database of lenders and get one of the lowest mortgage rates in history. It's free, and there's absolutely no obligation to you.
For such a large purchase or investment, can you afford to let this pass? These rates won’t last forever, so act now!
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