Mortgage rates, exploring the topic
Mortgage loans are looking more attractive to many consumers as the third month of 2009 nears its close, with rates hitting record lows. The first month of the year had been the record holder for low rates until the last week of March. The rates are at the lowest point since Freddie Mac began tracking data on mortgage loans in the early 1970s. As the inventory of properties on the market remains high, many realtors, builders, investors and homeowners hold their breath to see if the historically low rates encourage some activity in the ailing market. One would assume that the low rates and significant drops in home prices in many markets in the country would be enough to get people buying again.