Current Home Mortgage Interest Rate

Current home mortgage interest rate, for a 30 year fixed rate continues to decline. Since May long term rates have been declining despite the fact that the Fed has increased short term rates twice.

While short term interest rates are affected by the actions of the Federal Reserve and Allan Greenspan...the current home mortgage interest rate is a function of the free market place.

As you can see from the above chart current home mortgage interest rates ARE NOT headed up as so many of the talking heads on TV have suggested they would.

What does this mean to potential home buyers. Simply this....there is no rush to go out and buy a house because of interest rates. Don't be pushed into something you may later regret, take you time and find out everything you need to before taking action on your home purchase.