Market Update: Mortgage Rates Still at Record Lows - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Tuesday, April 23, 2013

Market Update: Mortgage Rates Still at Record Lows

Just a few short weeks ago, interest rates were starting to climb and refinance transactions began to taper off. Today is the third Tuesday in a row that stocks have trended downward, causing mortgage interest rates to remain low.

Despite economic predictions, mortgage rates have remained low. Earlier this year, it was predicted that interest rates on a Fannie Mae 30-year fixed loan would be over 4% by the fourth quarter. We are part way through the second quarter and the average 30-year fixed interest rate is 3.41%.

Will this trend continue? There were talks earlier this year that Quantitative Easing, the Federal Reserve plan to buy mortgage backed securities, was on its way out. With dismal jobs reports, poor retail numbers, and international turmoil in North Korea I find it difficult to say that the economy has improved significantly enough to justify stopping quantitative easing.

It will be interesting to see which direction the market turns over the next few months. For those that have not yet taken advantage of these historically low interest rates, there is still time. With interest rates this low, it is a great time to finance large amounts of money. Now may be a good time to consider a cash-out refinance, to get extra money for spring projects or college tuition.

United Home Loans is licensed to provide mortgages in Illinois, Indiana, Michigan, Minnesota and Wisconsin. We offer competitive rates on fixed and adjustable rate mortgages, and provide exceptional service to each of our clients.

Please call us for any mortgage questions or would like to get a better rate! Call (708) 531-8388 Today!

Illinois Mortgage Rates
IL 30 Year Fixed mortgage as of April 23, 2013 3.375%/3.414 APR
IL 15 Year Fixed mortgage as of April 23, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Indiana Mortgage Rates
IN 30 Year Fixed mortgage as of April 23, 2013 3.375%/3.414 APR
IN 15 Year Fixed mortgage as of April 23, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Michigan Mortgage Rates
MI 30 Year Fixed mortgage as of April 23, 2013 3.375%/3.414 APR
MI 15 Year Fixed mortgage as of April 23, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
MN 30 Year Fixed mortgage as of April 23, 2013 3.375%/3.414 APR
MN 15 Year Fixed mortgage as of April 23, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MN mortgage rates


Wisconsin Mortgage Rates
WI 30 Year Fixed mortgage as of April 23, 2013 3.375%/3.414 APR
WI 15 Year Fixed mortgage as of April 23, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more WI mortgage rates


Receive Your
Custom Rate Quote

Confirm the information below or call us at 708-531-8388.
0%
Choose One...
Choose One...