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Mortgage Rates
Tuesday, September 18, 2012
Mortgage Rates Rates in Roseville and across America have crept down approximately 0.2 percentage point since the Federal Reserve made an announcement in September that they will be buying as much as $40 billion a month in mortgage-backed securities until it jumpstarts economic recovery. According to Keith Gumbinger of HSH.com, a mortgage information company, indicates that this may already be happening. "If the economy continues to show signs of improvement this fall, mortgage rates could firm a little more,” Gumbinger states “For that to occur though, we'll need a lot more evidence that forward momentum is building." Chief economist at Freddie Mac, Frank Nothaft, said mortgage rates remained the same this week as “home construction builds up stream.” He emphasized on the construction of single-family homes that is on a consistent rise, which in turn is encouraging homebuilders to build new homes. With the housing market improving in Roseville and the surrounding area, home loan rates continue to be at all time lows. So if you’re looking to refinance your home, apply for a home equity loan, conventional, or jumbo loan, now is a great time to explore.
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