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 ^[2]. 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% ^[3], 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 ^[4] (based on today’s rates at Bankrate.com). What you find over the next few days may even be lower.

to see where your new mortgage ^[4] rate could be.

Hint: put what you save into your emergency fund.

Tweet ^[1]

About the author

Ron has written 1082 articles on The Wisdom Journal.

The founder and editor of The Wisdom Journal ^[5] 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 partner in a national building materials company.

If you enjoyed what you just read and would like to get FREE email updates with the freshest articles from The Wisdom Journal ^[5] delivered right to your inbox, subscribe today ^[6]! It's ridiculously easy and you can unsubscribe at any time. Since your email address is never sold or abused, you can subscribe with confidence, PLUS you'll get free reports/guides/eBooks, subscriber only benefits, and other perks.

• Blog ^[5]
• Twitter ^[7]
• Facebook ^[8]

_{»crosslinked« ^[9]}

Article printed from The Wisdom Journal: http://www.thewisdomjournal.com/Blog

URL to article: http://www.thewisdomjournal.com/Blog/mortgage-rates-take-another-dive/

URLs in this post:

[1] Tweet: https://twitter.com/share

[2] shell out some additional cash: http://www.usatoday.com/money/perfi/columnist/block/2010-07-27-yourmoney27_ST_N.htm?loc=interstitialskip

[3] refinance at 4.75%: http://www.thewisdomjournal.com/Blog/great-credit-score-helped-refinance-home/

[4] mortgage: http://www.thewisdomjournal.com/Blog/mortgage-basics/

[5] The Wisdom Journal: http://www.thewisdomjournal.com/Blog/

[6] subscribe today: http://www.thewisdomjournal.com/Blog/welcome.php/

[7] Twitter: http://www.twitter.com/wisdomjournal/

[8] Facebook: http://www.facebook.com/pages/The-Wisdom-Journal/147054648679421

[9] »crosslinked«: #

Click here to print.