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Low mortgage rates

Posted by  on Apr 01, 2010
 

Mortgage rates have been dropping recently and have influenced the affect of globalization. Mortgage rates that are low have been instrumental in increasing the purchasing power of millions in the US, Europe and around the world.

In recent times, foreclosures are becoming more common, especially in the American Midwest, but it is still on a low level. Consequently, we can expect a rise in mortgage rates the coming year. The thirty year rates will likely continue to rise in the upcoming months, but should not go past 7% in the US. In Europe the five year interest rate is around 5-6%. So if you plan to get a fixed rate loan, you should act quickly because mortgage rates are predicted to push past 7% in the US over the next few weeks.

The second mortgage rates on high loans to value loans above 90% on real estate investment properties can come close to 20%, even if you have a very good score. It might be a good time now to refinance your home or get a mortgage loan with attractive rates. Search the Internet and you will find a lot of online companies offering low mortgage rates all over the country.

It is easy to forget that lenders feel the effects of a slowing economy and rising mortgage interest rates. No wonder we hear lots of discussions about rising mortgage interest rates. A survey that was performed recently shows that there is a increase of foreclosure rates and delinquent mortgage payments across the country. A forty-year mortgage rates offer lower monthly installments, which suits the needs of first time home buyers as well as borrower who otherwise do not qualify for any other option.

There are people who prefer to have a fixed mortgage payment to maintain their peace of mind. Then you should have it and if you took the loan a couple of years ago you certainly made the right choice. For others there are a wide range of options currently available. With an adjustable rate, the rate of interest is linked to factors like the Prime Rate. In addition, keep in mind that there are a wide number of factors and statistics involved and they vary from day to day.

It also depends on when you happen to read this article. Often the credit companies are also skeptical in offering the forty-year mortgage rate option to their customers as there are other existing ways of reducing monthly payments.

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