10 year mortgage deals

Ten years ago, potential home buyers and existing homeowners looking to refinance were positively giddy about the interest. Hovering around 8%, the prices were a refreshing change from the double-digit in the 1980s. Who would have guessed, that now, in 2006, even with interest rates on the rise, we are far removed from the "high" interest rates by the end of the 90s.

With the exception of a peak in 2000, the last few years have seen historically low interest rates. Under the leadership of Alan Greenspan, the Federal Reserve Board lowered rates from 2001 to 2005. After interest Dot Com, the rate of 5.2% in June 2003 was the lowest rate since its predecessor print weekly price surveys began in 1985. These low prices enabled many Americans who did not previously afford to do, houses to buy. It has also led many existing homeowners to refinance their mortgages and cash out a portion of their home equity for home improvements or other goods and services. As stated by the Alliance house, the case has been "a pillar of strength in the U.S. economy in recent years that the depth of the recession in 2001."

This is also true, with rates slowly on the rise. Since October 2005, prices have not dipped below 6% and the current rate is 6.66% for a 30 years fixed mortgage. The rates on adjustable rate mortgages to rise slowly, so that an attractive option for refinancing or is already concluding a home equity loan or line of credit.

What are the prospects for the future? Some experts say that the increases will slow, while others do not, say that prices will continue to rise. It seems we just have to wait and see.

Jennifer is a freelance writer of many articles related to mortgage refinancing second mortgage interest rates and interest rates. If you need further information or current home equity rates, please visit the Home Equity Loans Center.