San Diego, CA (PRWEB) April 25, 2014
LoanLove.com is a borrower advice website that offers up-to-date information on all the latest news and developments that affect home loan borrowers and the options that they have available to them. The website provides in-depth information in an easy-to-understand format that both experienced and first time home loan borrowers can greatly benefit from. The loan advice website is dedicated to enabling loan borrowers with first-hand knowledge of what is going on in the mortgage world, which is seen in their latest featured article, titled “Mortgage Interest Rates History (Compared To Now).” This article provides readers with a background on historic mortgage rates trends while alluding to what loan borrowers can expect from mortgage rates based on trends of the past.
This new article from Loan Love states, “The ups and downs of mortgage interest rates can sometimes seem like a mystery to home owners and those hoping to buy a home. Understanding some of the critical factors impacting rates may not guarantee your ability to accurately forecast rates next week, next month or even next year. But a bit of knowledge will help you to better interpret some of the predictions experts are making and hopefully, use it to your advantage when financing a home. As with most trends, it can be useful to see where interest rates have been to get a better idea of where they might be going. In the U.S., a panel made up of representatives from the Federal Reserve Bank and Federal Reserve Board meets eight times a year to set monetary policy, which ultimately drives the mortgage interest rates your lender is able to offer.”
Loan Love goes on to explain some of the highlights of mortgage rates history. The article says that last year, mortgage rates fell to the lowest point since 1971. 1971. as the article explains, was a year marked by rising inflation and unemployment – trends which would continue to define the next several years. Both fixed rate mortgages and adjustable rate mortgage continued to have the interest rates increased, peaking in the early 1980’s at levels that are about four times what borrowers have available to them today.
The Loan Love article says, “While 2013 brought the lowest rates since the early 1970s, other economic conditions from those years were not mirrored so closely. Rather than rising unemployment and surging inflation, 2013 was marked by continued signs of slow, but steady, economic recovery and a housing market that continued to gain a foothold. With interest rates at all-time lows, most financial forecasters predicted change on the horizon for 2014. While interest rates have risen slightly, they have remained at historic lows and predictions of rising rates have mostly remained unfulfilled.”
The article goes on to explain how today’s interest rates are actually moving against predictions and also lists some of the contributors to current low rates. In the end, Loan Love says, “While most analysts continue to predict that interest rates will rise, the overriding opinion is that interest rates will continue to stay low despite slight upward fluctuations. Today’s continued low interest rates should serve as a call to action for those planning to enter the market:
- If you are a current homeowner and haven’t refinanced, now is the time to snag a good rate, while they are still near historic lows.
- If a move may be on your horizon, make your home purchase while you can still take advantage of low interest rates.
- If you are a real estate investor, now is the best time to grab some investment property, while prices are still low.”
For more information on this topic, click here to read the full article on LoanLove.com.