Mortgage payment calculator Learning the basics
Mortgage interest rates have dropped to historically low levels recently. Additionally, there is talk that the Treasury Department is considering a push to decrease rates offered to those buying homes to below 5 percent. There is no talk about offering those same rates to current homeowners wishing to refinance, but rates for refinance should not trail far behind. Some economists hope that lower rates and the recent drop in prices will encourage prospective buyers to purchase now, thus breathing some much needed life back into the real estate sector. Contrarily, others believe low rates will do little to jump start the economy.