Mortgage Rates Fall During Week

The 30 year fixed rate mortgage average fell from 6.13 percent to 5.87 percent from a week earlier, while the 15 year fixed rate mortgage average fell from 5.60 percent to 5.27 percent during the same week according to Freddie Mac.

The Feds actions throughout the week have made a statement telling lenders that they will do whatever it takes to get the US housing market back on track. By lowering interest rates and bailing out the fifth largest investment bank, Bear Sterns, many lenders are feeling more comfortable that the government will be there to bail them out if need be.

Although mortgage rates have dipped throughout the week, don’t expect rates to continue to decrease. If recent history shows us anything, it shows us that mortgage rates react positively for a few weeks after a rate cut before more disturbing news comes along and rates begin to climb.

You can see the lateset local and national Mortgage Rates and get the latest mortgage news by visiting Future Planning Financial at www.fpf-direct.com.