Costs for Fixed Rate Home Loans Have Lessened

June 27, 2005 LOS ANGELES -- Over the past year we have seen some twists and unforeseen turns in the mortgage and home finance marketplace. Namely, mortgage rates have stayed at remarkably low levels on a countrywide basis, a greatly unexpected reality when you factor in the Federal Reserve's "measured interest rate increase" plan initiated last June.

Adding yet another twist in the home loan amalgamates is the fact that loan costs associated with fixed-rate mortgages have seen a decline over the past year. This in despite of some measurable increases in interest rates over the past year.

To give a thumbnail sketch of rates this week, we offer the following: The most appealing five-year fixed-rate loan available this week thus-far is at 4.69 percent. This equals 0.9 per cent less than percentages compared congruently against this time one year prior.

As far as overseas home finance is concerned, it appears our friends in the UK have a bit of good news on their front as of late as well. Last week a slew of mortgage companies in Britain announced that they would be slashing interest rates for their equivalent fixed-mortgage programs by up to 0.3 percent. Article by Nolan Voight, Home Loan Industry Columnist. Email Mr. Voight.

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