Lower rates, what does it mean to you?

Mortgage rates continue to drop with the 30 year fixed rate loan at 4.69 % which is the lowest since 1971 when mortgage companies began keeping records of the rates The yield is partly due to concerns about the European financial problems and its effects on the current global economic recovery.

While yields have fallen to new lows, most Americans have not been able to take advantage of these rates by investing in real estate nor by refinancing their properties and it’s mostly due to their personal balance sheets which have been damaged by the economic financial recession. Lower rates also have made it especially hard for savers in their savings accounts and CDs. This is especially true for those who are living on fixed incomes with their earning currently yielding next to nothing on their money. We believe that low rates are here to stay because of the challenges of the economy.