Mortgage Rates – Are They As Low as They Will Go?

Over the past years, we have seen a continual decrease in mortgage interest rates.  Countless consumers continue to wait out the mortgage rates to see if they will continue to fall.  However, many consumers have already refinanced their property trying to secure the lowest mortgage interest rates in years.  View a few listings from Boise Idaho provided by IDX/MLS that are current and updated daily:

All Boise Idaho listings from IDX/MLS within last 45 days minimum of 1150 square feet. These links and listings are updated and refreshed daily each morning.

All Short sale listings in Boise Idaho within the last 15 days.  

What is the current mortgage rate?

The current mortgage rates have been falling for quite some time. Homeowners have been jumping on the refinance bandwagon for years.  Some have even refinanced their homes more than once.

Will mortgage rates continue to fall?

While the market continues to be saturated with foreclosed and distressed properties, and the economy continues to be uncertain, homebuyer applications remain stagnant. This means that there are too many homes available on the market for the number of buyers.  This is why we are in a buyer’s market. These market trends are the main reason that the mortgage rates continue to fall.  Financial experts predict that the mortgage rates will continue to be low to try to entice possible homebuyers into making a home purchase.

What does a low mortgage rate mean for you?

With mortgage rates lower than anyone has seen in decades, a low mortgage rate means that it may be a good time to buy or refinance your current home.  If you are in the market for a home, it may be a great time to consider buying.  Since no one can actually knows how long the mortgage rates will remain low, you will have to use your personal financial situation to determine whether now is the time for you to buy or not but as it stands experts only believe the mortgage rates will continue to be low.