Mortgage Interest Rates Drop Again; Todays 30 Year Fixed, 15 Year Fixed Mortgage Interest Rates drop to Historic Lows according to Freddie Mac

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dow2664 Freddie Mac is posting that mortgage interest rates will drop lower once again. The housing market has continued to struggle even as the 30 year and 15 year mortgage interest rates remaining at relative lows. Each time the mortgage interest rate drops, economists expect that the reduction will act as a catalyst for increased financing. This has not happened for a number of reasons. One reason relates to the heightened criteria lenders have to approve borrowers. More stringent criteria has been put in place in an attempt to avoid default catastrophe. Another reason the housing market has not seen a greater increase in the number of persons entering into the home financing process relates to jobs. The recent jobs data that posted in the United States has been weak and this is applying negative pressure to the housing market. The national unemployment rate remain at 9.1 percent. Fewer individuals across the country are in good position to enter the home acquisition process. The good news is that the market has continued to move slowly and Treasury bond yields have remained low. Mortgage rates have dropped once again. The 30 year fixed mortgage interest rate recently dropped lower to 4.09 percent and the 15 year fixed dropped down to 3.30 percent. Both rates are at historic lows according to posts from Freddie Mac. Stephen Johnson