Las Vegas, NV, USA (November 10, 2014) — MortgageRatesFast.com, the leader in information on U.S. mortage rates, reports home loan rates remain close to the lowest they have historically been, according to the Freddie Mac survey of average rates gathered from lenders throughout the nation. Average mortgage rates hit their lowest level in late 2012.
The rate on an average 30-year fixed rate mortgage is currently 4.02%, the survey showed. The same 30-year fixed rate home loan reached an all-time low average of 3.31% during the week of November 12, 2012. Rates have increased slightly over the two intervening years, but have had little incremental changes for most of the period.
A series of economic indicators show there is little movement expected in rates over at least the next 12 months, even as the Federal Reserve removes some of its quantitative easing measures. The Fed halted its two-year round of buying mortgage-backed securites and U.S. Treasuries two weeks ago after purchasing more than $3-trillion worth of securites in efforts to help stimulate the U.S. economy.
The Fed is also keeping the rate it charges banks for over-night borrowing at or near zero. Higher rates charged by the Fed usually translate to higher interest rates set by banks and mortgage companies, including higher rates on lines of credit for business and consumer credit cards. Visit Mortgage Rates Fast for in-depth analysis on the U.S. housing market.
Business journalists, including specialists in bonds, real estate and banking provide detailed reports and forecasts so consumers can better protect themselves in the world of finance, and get mortgage rates at the lowest available for a new home loan or refinance.
Company Name: MortgageRatesFast.com
Contact Person: Mike Colpitts
Email: Send Email
City: Las Vegas
Country: United States