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Mortgage Rates Plunge to 52 Year Lows. Calculate Refinance Savings with Our Mortgage Calculators

News Watch:  on March 26, 2009, CNN.com reported that mortgage rates have plunged to 52 year historical lows.  Further, they report that analysts say that while mortgage rates could edge a bit lower, they won't make any more dramatic plunges.

What does this mean for you?  First, this means this is one of the best times in history to shop for low mortgage rates or special mortgage refinance offers.  It also means that currently mortgage rates are close to their lowest point in history.

This comes with the announcement that the Federal Reserve is more than doubling its planned purchases of mortgage-related securities.  The Fed announced "a shopping spree that would make Donald Trump blush," Bob Walters, chief economist at Quicken Loans in Livonia, Michigan, told Reuters.  Quicken loans already cut the mortgage rates it offers by 1/4 to 3/8 points.  Calculators4Mortgages is featuring a Quicken Loans Refinance quote offer here.

So if you are considering a new home loan or have been waiting on the sidelines to refinance, now is your time.  Take advantage of Quicken Loans' low mortgage refinance offer above or tap into our Calculators4Mortgages.com database of reputable lenders to search for lenders' best rates on new home mortgage loans, mortgage refinance, or home equity loans and get one of the lowest mortgage rates in history.

The FDIC states at their website: "Different mortgage lenders may quote you different prices, so you should contact several mortgage lenders to make sure you're getting the best price."  Shop around and compare rates - what you may be getting from your first lender or your current lender may not be the best rate out there. 

Get mortgage rate quotes and compare your current mortgage loan rate against a refinance offer with our refinance calculator.  Or get prequalified for a mortgage with our mortgage prequalification calculator and request a pre-qualification letter.



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Today's Best Mortgage Rates

Product

Today

+/-

Last Week

5/1 ARM

3.07 %

3.16 %

15 Year Fixed

2.69 %

2.63 %

30 Year Fixed

3.85 %

3.85 %