Mortgage Rates Today Trend?

Mortgage rates are currently at historic lows. I want to buy a house and I was wondering if it's smart to take advantage of the best mortgage rates and low home prices.
Today it was reported that the 30-year fixed mortgage rate averaged 4.14 percent, down from 4.19 percent during the same time last week.
What is going to be the mortgage rates' trend from now on? Will it continue to go down or is there going to be a change in direction? What is your recommendation for me?

asked by Allen in Investing | 3695 views | 08-10-2011 at 01:17 AM

The national average mortgage rate dropped to the lowest level seen so far this year.
You should take advantage of the low mortgage rates, I believe the trend will continue this way.
Mortgage brokers say that the current economic situation is fueling a boom in refinancing and piquing the interest of new home buyers who had been waiting for an opportunity like this.
You should consider though that the recent downgrade, on top of the euro-zone crisis and fears over a recession in the U.S., could lead to increased volatility in the mortgage markets.

answered by Claude | 08-10-2011 at 01:18 AM

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