4.75% -- Again
While everyone is eating Turkey and looking for flat panel TV's on sale, interest rates have quietly re-touched their all-time lows: 4.75% (or even lower) for a 30-year, fixed rate mortgage.
That's what supply-and-demand says should happen when soft demand meets ample supply (at least something in the economic realm is functioning normally).
If you missed your chance to re-finance earlier this year . . . take advantage now!
Unlike earlier this year, there's no frenzy, which means a lot less hassle and delay.
P.S.: Of course, the other monetary phenomenon at the moment is bizarrely low short-term rates: effectively 0% for 3-month T-bill's, and less than 1% for 2-year bills.
Thursday, November 26, 2009
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