Mortgage rates nationwide continue to decline as interest rates are still at historic lows with the recession holding a firm grip on the economy. The Federal Reserve Bank is also engineering rates lower providing nearly unlimited liquidity to the market.
The action by the U.S. central bank along with the problems still facing the housing market are keeping prices under pressure. Experts cite a lack of demand for homes and still overwhelming number of foreclosures coming onto the market for keeping home prices and mortgage rates at historically low levels
A few of the more depressed regions in the U.S. where housing is still the biggest drag on the local economy can be found in Las Vegas, Florida, and Arizona. Potential home buyers will find big bargains in these markets with a Florida Home Loan and the price of a home at levels not seen since the 1930’s.
