Industrial production around the United States has enjoyed unparalleled growth for two straight months starting in February of 2014. Purchases and construction of new homes around the United States have also gone up in a way, although it is still below the optimal figures seen in the period after the recession in November 2013. This is a clear sign that the property market pressures still have an effect on the entire economy.

The mortgages of today and the current interest rates for home loans are in a way much more stable than a couple of years ago. However, the real estate market has not recovered as analysts expected during the third month of the year. New projects have increased in quantity by about 94,600 units or 2.8 percent, although it is still below the anticipated increase of 973,000 units

The best current mortgage rates for home loans are depicted in the latest information on mortgage home loans. For the typical 30-year fixed-rate home mortgage loans, the interest rate stands at 4.25 percent with an APR of 4.36 percent. For the short term 15-year fixed mortgage rate home loans, the interest rate stands at 3.5 percent with a 3.67 percent APR yield. Those seeking flexible mortgage home loan transactions can access adjustable plans available for five years at 3 percent interest rate for starters, at a 2.92 percent APR yield.

In the area of refinancing, the three decade fixed rate home mortgage loan has a 4.375 percent interest rate at a 4.5 percent APR yield today. For the shorter fifteen year fixed rate home loan refinancing, it is available at a 3.5 percent interest rate backed by a 3.72 percent APR yield. For adjustable mortgage rates, those who choose a 5-year refinancing can lock it at a 3.125 percent interest rate including a 2.97 percent return rate.

Does it mean you are too late to get the best mortgage deal?

For a number of years, mortgage rates looked like they were going steadily down albeit slowly. However, from May 2013, the rates had started spiking. Currently, the mortgage interest rates have increased by one percentage point in contrast with the same period last year. The first few months of 2014 have shown us that the rates seem to continue spiking up with the trend expected to remain virtually the same. This does not mean you are late and all great mortgage deals are gone. As the rates keep increasing, analysts still say they are relatively low. It is not time to abandon the idea of purchasing a great home.

Mortgage rates still near to the ground

Individuals refinancing or buying homes enjoyed mortgage rates of below 4 percent for benchmark fixed rate 30-year mortgages. The rates stood at 3.5 at the end of 2012, a record low. Before July 2013, the same rates had climbed up by a whole point. If you are always focusing only on the rising trend of mortgage rates you will easily miss a very important point that the current interest rates for home loans are still wonderful deals. In fact, by 2008, the same mortgage rates stood at 6.32 percent while those who bought their real estate in the 80s paid an amount beyond 10 percent. When you consider this, 4.5 percent interest rate is still quite good.