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Saturday Night Prediction: 30 Year Fixed Rates Will Fall Below 1945 Level This Week

Rutgers (NJ) University Press is the publisher of A History of Interest Rates by Homer & Sylla.  Google it and you can buy it on Amazon.  According to the authors, the average mortgage rate in 1945 was 4.7%.  I'm no youngster, and I came along in '48.

4.7% for a 30 year fixed rate?  I locked a client this past week on a cashout refinance at 4.75% on a 30 year fixed rate mortgage, at less than 60% loan to value.  1 point origination, no discount points.  No junk fees.  That was Thursday, and the next day, that rate had evaporated.

Friday, rates were up again, but I believe they will ease this coming week.  I'll come back and let you know whether I'm a hero or a goat! 

___________________________________________________

I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your Tucson mortgage expert.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090

Comment balloon 21 commentsMike Jones • March 21 2009 11:06PM
Saturday Night Prediction: 30 Year Fixed Rates Will Fall Below 1945…
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