Loans, what you need to know
Since then, interest rates for mortgage loans have been shrinking. Freddie Mac starting tracking interest rates almost 30 years ago and the rates today are lower than they have ever been during that period. Lower rates seem to be the one silver lining for consumers caught in the economic downturn, particularly for those who could not afford to purchase a home during the run up in the housing market. Many of those consumers have decided to take advantage of the low rates for mortgage loans to purchase a home. And many current homeowners are refinancing original mortgage loans under the new interest rates.