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The mortgage industry sees lower rates as stock prices free fall


The roller coaster ride that is the stock market has also left mortgage rates on a wild ride in 2008, presently rates are moving down.

The stock market has dropped over twenty percent in the past twelve months. Fixed mortgage rates have been as high as seven percent, in late 2007 and as low as five point five percent in early 2008.

The market has faced an unusal paradigm over the past three months, mortgage rates were moving up as the stock market was declining in value. Typically, if investors pull their money out of the stock market they are investing their money back into bonds and other more stable investments. This has not been the case with mortgage rates feeling an overwhelming pressure from inflation, directly caused by the rapid rise of oil prices.

The past two weeks has seen a reverse of this trend. Mortgage rates have started to fall, and the ten year bond had dropped from 4.27% down to a low of 3.81%, before moving up on Friday the 11th. Mortgage rates are likely to continue their roller coaster ride as the stock market digests news for the month of July. Mortgage rates for July could provide a needed opportunity for home owners to fix in their interest rates as they brace to battle the economic challenges of the next twelve months.

7-14--2008 ? LoanNetwork.com





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