Have we Hit Bottom?

The CEO of Freddie Mac believes that the housing market has finally hit bottom, though there is fear that the new wave of foreclosure coming through could hurt the recovery. In addition Haldeman the CEO of Freddie Mac said he expected the 30-year fixed mortgage rate to remain between 5 and 6 percent throughout 2010. Leading industry analyst are still divided on how the recovery will go.

Mortgage Rates a Little Lower

Fixed 30 year mortgage interest rates went down slightly but remain about 5% for the forth week in a row. Fixed 15 year mortgage rates were also down slightly from 4.50% to 4.45%. This is a popular mortgage for those who are refinancing, and looking to pay off their home quicker. The 5% rate may not last for long, as many people predict that rates will increase this year.