Current Mortgage Rates - Recent Update on Mortgage Rates from Earth Mortgage

Mortgage rates change every day. Keeping up with current mortgage rates can be difficult for the average consumer. Earth Mortgage makes it easy to keep up with current mortgage rates.

Current Mortgage Rates Lower This Week
Current mortgage rates dropped this week. It's never possible to know 100% the cause of a change in current mortgage rates, but this week the most likely cause is the slumping economy. As the economy slows, the demand for loans goes down, which also tends to take current mortgage rates lower.

As a reference, the benchmark 30-year fixed-rate mortgage fell 9 basis points, to 6.53 percent, according to a national survey of large lenders. A basis point is one-hundredth of 1 percentage point. For comparison, last year at this time the 30-year fixed mortgage rate was 6.74 percent; as recently as four weeks ago, it was 6.26 percent.

The price of oil continues to go through the roof, causing much concern throughout the US economy and the world economy. Also, ADP, the payroll processing company released an employment report showing that non-farm payroll jobs shrank by 79,000 in June -- worse than the 20,000-job reduction that Wall Street had expected.

Current Mortgage Rate Future Direction
The Federal Reserve seems to be concerned about inflation. Their primary weapon for fighting inflation is to raise interest rates. If the Fed starts raising interest rates, this will tend to cause all interest rates to increase. Which makes this a good time to purchase or refinance a home.

At Earth Mortgage, you can always count on the most knowledgeable staff to answer your questions, accurately and quickly, and to offer the lowest current mortgage rates and FHA interest rates plus the very best opportunities for savings, whether refinancing or financing a new mortgage.

But don't take our word for it, here's an excerpt from a letter we received from a satisfied customer:

"Thank You!

Maria and I just wanted to drop you a note to say THANK YOU for all the help you gave us during the purchase of our new home. We just love it, I will send you pictures of what it is looking like now, and we have really done a lot fo work on it already making it cozy and warm.

We really appreciate the work you and Earth Mortgage provided us. You were the best and we hope to work with you again.

Please keep in touch and if you come to Santa Fe, please let us know so we can have lunch.

Sincerely,
D. Laymin"

Earth Mortgage offers competitive current mortgage rates and FHA interest rates plus a complete line of mortgage products including sub-prime, conventional, FHA, VA, stated income, no income no asset and second mortgage products.

At Earth Mortgage, we guarantee to provide the lowest current mortgage rates and FHA interest rates of any licensed lender and we will close your loan on time or we will pay you $500.00. See current mortgage rates and FHA mortgage rates from other lenders, and then come to us for a lowest cost and most efficient loan process on the web!complete line of mortgage products including sub-prime, conventional, FHA, VA, stated income, no income no asset and second mortgage products.

Call our 24-Hour Toll Free Number now:
1-877-EARTH-50