Have you been watching television lately and noticed that in spite of a terrible Connecticut housing market there are still Connecticut mortgage companies who are still stating that rates are at historic lows and are getting lower ever day? How in the world are lenders still stating that rates are good when people are losing their homes with decreasing properties values and the economy is in a downward spiral? Well I took the time to find a answer for this very common question and discovered that although the advertisements are annoying at times the interest rates really are at some of the lowest that they have ever been.

I was shocked when I learned that the truth of the matter is that the banks and government have lowered interest rates during this tough economic period. Now just so we are on the same page let me make it clear that I am not talking about small amounts of increasing or decreasing like one eight of a percent, I am talking about one, two or three percent decreases in interest rates. When I begin to take a close look at what was going on I noticed that in the last couple of years lenders have lowered interest rates in response to the Connecticut mortgage market being terrible because they want to stimulate their local economy so that they could make more money.

Before you saw this article you might have thought rates must be doing terrible because of all the things you see and hear on television or radio, but the reality is much different. In fact this is probably as good a time as any to take advantage of the lower interest rates in order to buy your first home or lock in a lower fixed rate mortgage.

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