Mortgage Interest Rate

Mortgage interest rate averages have hit 40-year lows. The time is now to take advantage of them!

Mortgage Interest Rate - Drop It Like It's Hot!

Finding the best mortgage interest rate

• It has been forty years since we have seen mortgage rate averages this low.
• The average mortgage rate on a 30-year fixed-rate mortgage fell four basis points again last week to 5.66 percent according to the research experts at First Empire Mortgage.
• The mortgages in this week's survey were lower than the mortgage interest rate of 6.04 percent just one year ago this week.

There is no greater factor in the world of home loans than the mortgage rates you qualify for. Because of the length and sheer amount of most mortgage loans (with the U.S. median home price at $200,000), even the smallest difference in rates could mean a world of difference down the road. Why settle for anything less than the best mortgage loan deal you can get? You won't have to when you contact us. Come see what the best group of mortgage lenders out there can do for you!

How can I find the best mortgage interest rate?

A frequently asked question, to say the least. Certainly, everyone would like to know that! It all starts with running the numbers. The 30-year fixed-rate home mortgage is the benchmark loan, but the 15-year fixed-rate mortgage also fell 4 basis points to 5.04 percent. The one-year adjustable-rate mortgage rose 1 basis point to 4.07 percent. Mortgage interest rates have remained steady thanks to powerful forces creating a standoff against each other.

The experts at First Empire Mortgage, who are just one click away when you fill out a free informational form, understand that long-term mortgage rates rise when investors expect inflation to pick up. Rates fall when investors aren't worried about rising prices. Rising oil prices and a weakening dollar are considered inflationary, while a mediocre job market keeps inflation in check. Both of these factors along with several others have kept the mortgage interest rate pretty steady over the past year.

Once you get your mortgage rate, be sure to check out our mortgage rate calculator to find out how much you will have to pay.

If the mortgage interest rate does rise slowly instead of abruptly jumping higher, it would continue to spell good news for homeowners and real estate agents. Demand remains strong for houses. Sales of existing homes rose 3.1 percent in September, to an annual rate of 6.75 million units, and sales of new homes unexpectedly rose 3.5 percent from August to September, to an annual rate of 1.2 million.

Our First Empire Mortgage brokers don't expect the mortgage interest rate to move much in either direction for the early months of 2005. But they are likely to raise gradually at some point soon. Our view is shared by other leading mortgage companies and investors, and reflected in the conventional wisdom in the mortgage industry. The only way to ensure that you get the most advantageous deal is to act now!

The importance of mortgage interest rates

Whether this is your first mortgage loan experience or you are experienced in this business by now, there is little to lose and much to gain from consulting outside experts. If you need to refinance mortgage, these rates can be capitalized on in your situation as well! Our experts at First Empire Mortgage suggest now is the time to jump on the lowest mortgage interest rate they can find. Just by filling out our free informational form, you can receive the guidance and expertise that you desire.