The stock market trouble and the European debt crisis are things easier for American homebuyers and families looking to refinance. This is due to mortgage rates inching closer to a record low.

However, this window of opportunity may close soon due to rising home loan rates. This will occur if investors grow more confident and shift money out of the safety of government bonds. These bonds are what influence mortgage rates.

Despite the threat of the window closing soon, rates are tantalizingly low at the moment. The average 30-year fixed-rate loan sank to 4.78 percent this week. That is the lowest this year and barely above the record of 4.71 percent, which was set in December. In addition, 15-year loans are at their lowest rates in two decades. Read the rest of this entry »