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Interest Rates are the lowest of 2011

Mortgage News > Interest Rates are the lowest of 2011
Date: 06/02/2011    Interest Rates are the lowest of 2011

Freddie Mac reported that interest rates have reached their lowest levels in 2011 this week for both 30 and 15 year fixed mortgages.  The average rate for a 30 year fixed-mortgage dropped to 4.55% and 3.74% for a 15 year.

USA Today reported the fall in interest rates mirrored a drop in “the yield on the bellwether 10-year Treasury note [which] fell below 3% Wednesday for the first time since December, reflecting weakness in the U.S. economy.”

A bellwether note is defined as “a security that tends to lead the market and signal the general direction of future price movements” by yourdictionary.com.

Many factors in today’s market reflect a slow economy which would make inflation less likely, in turn producing an environment where lower yielding bonds are accepted.