Mortgage Rates Take Another Dive

by Ron Haynes

Just when you thought rates couldn’t go any lower …

Mortgage rates keep decreasing and today they’re down to levels not seen since the 1950’s. The last time rates were this low, houses cost about $10,000, cars about $1,500, the Super Bowl didn’t exist, and Justin Biebir’s grandparents were just toddlers.

If you haven’t take advantage of today’s lower rates, now could be the best time ever. Even if you have refinanced recently, doing so again could be in your best interests, even if you have to shell out some additional cash. I refinanced in 2009 and I’m considering it again, possibly for a shorter term loan this time. When I did refinance at 4.75%, I didn’t think rates could go much lower. Was I ever wrong!

Today’s rates are as low as 4.21 percent for a 30 year refinance and 3.71 for a 15 year and an astonishing 3.19% for a 5/1 adjustable rate mortgage (based on today’s rates at What you find over the next few days may even be lower.

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Take a peek at what interest rate you could get by checking out either Mortgage Search 123 or to see where your new mortgage rate could be.

Hint: put what you save into your emergency fund.

About the author

Ron Haynes has written 988 articles on The Wisdom Journal.

The founder and editor of The Wisdom Journal in 2007, Ron has worked in banking, distribution, retail, and upper management for companies ranging in size from small startups to multi-billion dollar corporations. He graduated Suma Cum Laude from a top MBA program and currently is a Human Resources and Management consultant, helping companies know how employees will behave in varying situations and what motivates them to action, assisting firms in identifying top talent, and coaching managers and employees on how to better communicate and make the workplace MUCH more enjoyable. If you'd like help in these areas, contact Ron using the contact form at the top of this page or at 870-761-7881.