Current Mortgage Interest Rate have dropped due to our market decline this morning. A lot of people are
thinking that the FED's rate cut this morning helped the rates to go down. What they failed to realized was that
Bank of America reported 4th quarter losses, AMBAC 3.26 Billion dollar loss, UAL 53 Million dollar loss, and the
fear of recession. Mortgage Rate tend to follow the 10yr bond notes, but are tied to mortgage back securities.
There are a lot of lenders offering mortgage rates in the low 5's, and super jumbo mortgage rates in the mid 5's
on ARMs. FHA Loan rates have also been dropping, and it's having a huge effect on this economy for those with
low credit scores. Freddie Mac reported the rates around 5.69% 0.5 points on January 17. Finding the
right mortgage lender is going to be a lot easier with the low mortgage rates this quarter.
Robert - Today's Interest Rates
