The average interest rate for a conventional 30-year fixed loan in the US is a remarkably low 4.82 per cent Wednesday (June 9) morning, compared to a 4.91 per cent average rate on Wednesday of last week, according to the Bankrate.com survey of mortgage lenders from across the country.

The Euro has fallen to levels not seen since the first half of 2006 against the dollar as talk of pending interest rate hikes pick up in the United States. One Euro is currently worth $1.2058 after falling as low as $1.2017 in early Friday (June 4) morning US trade.

The Euro remains in a vulnerable position with a lot of economic and environmental factors affecting Europe, Asia, and US markets. One Euro is currently worth $1.2313 in mid-day Asia currency trade.

German lawmakers have moved very quickly to officially put into a place a loan assistance package for debt ridden European Union countries. Citing the growing despair in the marketplace, German leaders noted that making the support package official was important to concerned consumers and investors.

As leading European economies are being singled out one by one by Moody’s, other creditors, and key economic bodies, the value of the Euro has fallen below $1.30 for the first times since April 2009.

Home buyers have been frantically trying to close deals as April ends and two major tax credits that have benefitted new and repeat buyers cease Friday (April 30). Some top housing market experts and economic analysts have questioned just how much the credits have helped boost jumps in new and existing home sales in recent months, but others are very concerned about what will happen during May and June.

The Fed concluded its Board meeting Wednesday afternoon (April 28) by announcing that it was leaving interest rates unchanged with the key funds rate near zero per cent. The announcement is not surprising given most of the Central Bank leaders’ commitment to leave rates low for an ‘extended period’, but it is interesting to see following a month long crusade by a few economists and leaders to advocate for raising rates to stave off inflation.