Armando SanMiguel of Brand Mortgage took some time to try and sum up the current situation and future for mortgage rates in the Nashville real estate market.

The US Financial Market is still facing recession type circumstances and as a result interest rates continue to remain low.  The Federal Reserve is helping drive rates down in hopes of jump starting the economy by consumers borrowing money and refinancing their homes. 

As a result, interest rates for home mortgages are at an all time low.  Furthermore, they have stayed relatively unchanged for the last 2 months. 

FHA Mortgage Rates 

Currently, 30 year FHA and Conventional rates are nationally in the mid to low 4% range.  It is unlikely that we will see any dramatic changes in the remaining 4 months of the year. 

It is currently a “buyers” market and looks to remain that way through the end of the year and the beginning of 2011, barring any unseen catastrophic market events.

Armando SanMiguel, Vice President/Branch Manager

Brand Mortgage

1896 General George Patton Drive

Franklin, TN 37067