Home mortgage rates going down

July 12, 2004
Associated Press

WASHINGTON -- Jump in now. That's the advice from experts to people who are thinking about refinancing a home or buying one, in light of the recent drop in mortgage rates.

Forecasters predict rates will again start to slowly climb through next year.

''Strike while the iron is hot,'' says Greg McBride, a financial analyst with Bankrate.com.

''There is no telling exactly when they might quickly reverse course and move higher,'' he said.

The mortgage company Freddie Mac reported last week that rates on 30-year fixed-rate mortgages were at their lowest levels since the spring. AP

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