The numbers are showing a three month trend of increased pending home sales through April. This combined with good news from the stock market has led to increased mortgage rates – a still very low yet higher than we’ve seen lately 5.125 to 5.375%.

However, as we reported recently, home prices are still falling in many areas of the country. There is still an abundance of inventory and it will take awhile for slight increases in pending home sales to catch up with the current available inventory. Are Obama’s plans to improve the economy, and specifically, the housing market, working?

Consumer confidence is certainly on the rise. After a few years of nothing but bad news, the country is looking for a glimmer of hope to indicate our crisis may soon be coming to an end.

There are still a number of great programs available to help you purchase a new home with an Idaho mortgage or refinance your existing mortgage while rates are still low. If you took out an Idaho home loan at the peak of the economic rise, it’s likely that your Idaho mortgage rate is well above 5.5%.

If you’re interested in finding out if a refinance could work for you, call an Idaho mortgage lender today to find out what programs are available that could help save you money. If you’re a veteran, the VA streamline refinance program is a fast and easy option for refinancing an existing traditional or VA loan. FHA is also offering a streamline refinance program that eliminates some of the hassles of going through the refinance process.

If you’re a first time homebuyer, the government is still offering incredible tax breaks if you purchase a home through July of this year. Call an Idaho mortgage specialist today to learn about your options!

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