Mortgage Rates
Thursday, December 18, 2008
by The Bishop Team
Mortgage Rates
Mortgage rates have moved to a low that has not been seen in the marketplace for years. The Federal Government in an attempt to rally the downtrodden housing markets have pushed rates downward to a 4.75% rate for 30 year residential mortgages. It is hopeful that these rates will re-start the engine in the housing market industry. Aside from pushing buyer's forward into the market, these rates should provide an onsloaught of activity in the re-finance market for lenders. Another bonus is that the stock market reacted favorably to this news.