Refinance home loan rates are getting very close to all time lows.  Mortgage interest rates
have been below 5% for almost a full week now and it is quite possible that we are going to see rates drop below 4.9%.  This would be the first time we have seen mortgage rates this low since May of 2009.  The all time low for the 30 year fixed mortgage rate is right at 4.75%.  It will be very interesting to see if we can get close to these levels.

The 10 year treasury rate yield hit a short term hit in early June and has been trending down for the last few months.  This rolling over of the 10 year yield has helped to drop mortgage rates to new lows.  For the entire first half of 2009, the 10 year yield was in a steady uptrend going from 2% all the way up to 4%.  Now that the yield has rolled over and the 50 day moving average is actually heading down, it is likely that mortgage rates are free to drop much lower as well.

Full story is available on Subprime Blogger