These days it’s really difficult to keep up with mortgage rates today because it is changing all the time. As we all remember mortgage rates were higher few years ago and today it hits the bottom.
Many borrowers were interested to refinance their mortgages because of the low interest rates and went to their bank right away to do so.
Many were unsuccessful qualifying for a mortgage and enjoy the lowest mortgage rates they have ever seen, while only few could actually qualify with their bank or through a mortgage broker and lower their mortgage payments.
The fact that mortgage rates today are at their lowest doesn’t really mean that you can qualify for a mortgage. Banks still have terms that it’s really hard to meet, so many borrowers around the nation are struggling.
We do predict that lowest mortgage rates today will stay low for the next couple of years, maybe until 2014. Then also we will be able to qualify to mortgage loans, it will help us stabilize the economy and the real estate marketing.
Be patient and Don’t loose your home in any way to this bad real estate market.
Good luck.