30 year Mortage Rates drop below 5%
 

Homeowners will soon be able to refinance 59 percent of all mortgages outstanding, likely making convexity hedging an ongoing issue, wrote Fidelio Tata, head of derivatives strategy at RBS Greenwich capital in Greenwich, Connecticut. With yields on 30-year current coupon securities dipping below 4.90 percent, mortgages with a 5.5 percent interest rate are now able to be refinanced, while those with a 5 percent rate will soon be eligible, he wrote.

I read that interest rate in Norway may be as low as 3.5% within september-09. Good stuff!

never ever get one of those mortgages. Get a variable prime based mortgage and you can lock it in if you see the rates going up.

www.bankrate.com says its 5.75%

Bankrate is a two day average. They will be under 5% on Wednesday !