mortgage financing and programs

Archive for October, 2009

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Historical Perspective of Mortgage Rates

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Mortgage Rates have been falling the past few weeks and are near the all time lows we experienced back in April. For most of this year we have been in a period of historically low rates. Just how low are these rates? Compared to a few decades ago they are microscopic. I researched the history of 30-year fixed-rate mortgage over the past 35 years to provide you a historical perspective of mortgage rates. The following is data I gleaned from the Freddie Mac Primary Mortgage Market Survey Archives:

October 1, 2009   4.94%
August 27, 2009   5.14%
June 25, 2009 5.42%
October 2008 6.20%
October 2007 6.38%
October 2004 5.72%
October 1999 7.85%
October 1989 9.95%
October 1984 14.13%
October 1981 18.46%
October 1979 11.64%
October 1974 9.98%

As you can see we are in a period of historically low rates. To take advantage of these extremely low rates fill out an Acre Mortgage loan request form, or give us a call at 800-511-3330.

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