Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Interest Rates Down Again for the 3rd Time in 4 Weeks
 

 
 
Rates drop over 10 basis points for the 3rd time in a month!
 
We began 2011 with a slight increase in the overnight rate on a 30 year fixed mortgage and since then it has been all downhill. As of this morning, the average overnight rate for a 30 year fixed rate sits at 4.76% down another 10 full basis points from where we were a week ago at 4.86%. This is the second significant weekly drop in a row bringing us back down from the 5.02% on January 2nd. Remember this is the average overnight rate and those with good credit will still be able to lock in rates below these averages.
 
The benchmark 15 year fixed rate also decreased last week to 4.06% from 4.15% while the benchmark 5/1 adjustable rate mortgage moved to the downside to 3.43% from 3.62% the previous week. 
 
Most economists feel strongly that the Fed won’t be raising interest rates anytime soon and that is mainly due to the fact that while we are seeing some steady growth in the economy, unemployment has remained stubbornly high. It appears that most signs point to unemployment staying above 9% ... more

__________________________________________________
Are you on The Rain? Grow Your Network!