Interest rates for home loans are as low as I have ever seen them. For top tier buyers and owners looking to refinance 30 year mortgage rates are around 5.5%! I have seen 15 year home loans for 4.875%.

If you have an adjustable rate mortgage, now is the time to get out. I have been around the mortgage business my whole life and can only remember home mortgage interest rates this low once.

It is the best time to buy or refinance you will see for a while, rates will go up as soon as the fed lowers rates. The biggest myth regarding home mortgage rates: they go in the same direction as the Federal Reserve rates. Mortgage rates are market driven and almost always act in anticipation of the fed, so when the fed lowers mortgage rates will trend upwards at least short term. The reverse is also true.

I also tracked the range rates over the calender year for a 12 year period and found rates are at the lowest in December/January and peak in June/July, yes I do have too much time on my hands.

Todays free advice on how to make your life better! Contact a Lender and look into a mortgage.