Current mortgage rates todays will remain low for the rest of 2011 based on world economic troubles in the United States, Europe and China. The U.S economy is still limping along at less than the growth rate expected. As a result unemployment is still high and the FOMC has kept interest rates at historical lows driving down mortgage rates today monitorbankrates.com/mortgages to record low rates for the entire year.
10 year bond yields which were almost at 4.00 percent last month are now ready to break below 3.00 percent so now would be a good time to get a home loan to buy a home or refinance your current home loan. 30 year conforming mortgage rates which hit a high of 5.25 percent early in 2011 are now back below 5.00 percent around the 4.60 percent range.
Mounting debt troubles in Greece and other countries in the European Union is sinking the Euro agaisnt the Dollar. U.S. bond yields are also going down as investors buy U.S. bonds driving bond yields lower. Yields go in the oppisite direction of bond prices. When prices go up yields go down.
All this will keep mortgage rates today very low and rates will probably continue to drift lower in the coming weeks. If the world economy go back into a recession you