What is the forecast for mortgage rates?

Posted on August 4, 2009
Filed Under Mortgage Rates |

The rate now is lower than when I took out the mortgage (5.5% Massachusetts). The house is worth less though than when we bought it.

Would your best guess be that are they going to continue to fall? Or jump on now. And why do you think they’ll fall (or rise)?

One more thing. Go real slow for the blonde in the room. I don’t speak math.

IMHO:
It should be around 5% or maybe drop to 4.7% by end of Q3 this year on 30 year fixed rate home loan.

regards
www.my-mortgage-refinance.com

Comments

6 Responses to “What is the forecast for mortgage rates?”

  1. knowitall on August 5th, 2009 4:31 am

    T h e y a r e g o i n g u p.
    Slow enough?
    References :

  2. David Z on August 5th, 2009 5:04 am

    unless stock market tanks like it did last winter interest rates will not go much lower.

    There is 80% chance we are going higher during next year.

    Mortgage rates tend to follow 10 year treasury bond moves. As those rates increase so do mortgage rates.
    References :

  3. Ŀëммϊ ;) ωϊηκﯤ on August 5th, 2009 5:53 am

    It’s pointless to play the mortgage rate game. People can predict what the rates will do, and sometimes they are right. But it’s just that: a game. A gamble. With the economy like this, Convention 30 year fixed mortgage rates SHOULD be down to 3%. But they aren’t. In my recent homebuying experience, banks don’t even want to sell houses. The banks are the problem and will continue to be the problem.

    Anyway you can’t predict it. When rates are lower, you lock it in and you go with and. If they go lower than what you refinanced at, then that’s a bummer, but it’s a gamble. You never know…they might go higher. We have a lot of clients that have been waiting for 5 months for rates to go down to 3% like the MEDIA has been speculating they would. So for 5 months they have been paying their mortgage at 6.5% interest instead of just financing at 4.875% like they should have done in the first place.
    References :

  4. Klathorn on August 5th, 2009 6:03 am

    Up Up Up and away.

    The Big Government is spending like crazy. There will be a delay but that will force interest rates up in the long run.
    References :

  5. Megan on August 5th, 2009 6:29 am

    I think they are at a verry low low and I would jump on them now while you still can.
    References :
    http://www.nationwidemortgagefunding.com

  6. mchelaid on August 5th, 2009 6:56 am

    IMHO:
    It should be around 5% or maybe drop to 4.7% by end of Q3 this year on 30 year fixed rate home loan.

    regards
    http://www.my-mortgage-refinance.com
    References :

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