Home loan rates, something to read about
2009 has already handed consumers some good financial news, which is a welcome change in the current economy. Interest rates for a fixed rate 30 year mortgage were the lowest in decades, well below 5 percent. The drop in interest rates have encouraged many current homeowners to apply for mortgage refinancing. A survey released by the Mortgage Bankers Association shows that applications for mortgage refinancing were at a five year high. Those homeowners are hoping to take advantage of the lower rates before they go up again.