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Mortgage Rates Forecast – Downward Trend to Continue?

Posted on | May 19, 2009 | 52 Comments

UPDATE: The most recent mortgage rates forecast article can be found here: Mortgage Rates Forecast – Interest Rates Stay Around 5.15%.  Mortgage rates have been quite volatile lately so it is a good idea to stay ahead of the crowd by knowing where overall rates are going.  Make sure to use Subprime Blogger to get all your mortgage rates information. 

The July 19th mortgage rates forecast article is available here: Mortgage Rates Forecast – Where Will Interest Rates Go in August? The 10 year treasury rate got a huge bounce of over 10% last week so that means average mortgage rates are headed higher. How much higher are they headed? Check out the article to find out!

The July 5th edition of newest mortgage rates forecast is available here: Mortgage Rates Forecast – Rates Move Higher This Summer? I personally think that we are likely to see mortgage rates move higher over the second half of the summer as the 10 year treasury rate is at a strong support level.  The government will do everything in their power to create artificial mortgage rates, but eventually the market is going to set interest rates.  For the sake of the overall economy and the health of the housing market, we should hope for low mortgage rates, but it doesn’t seem likely at the moment.

July 3rd – The newest article for current mortgage rate trends is available here:  Mortgage Rate Trends – Will Rates Go Higher in July? The month of July is going to be very interesting for average mortgage rates as the 10 year treasury rate is near the bottom of its upward trend channel.  If the 50 day moving average holds as strong support, we could see the 10 year moving back towards 4% which would mean that daily mortgage rates could reach 6% before the end of the summer.  Only time will tell, but it will be interesting to see what happens after the July 4th Holiday Weekend.

June 29th – This weeks mortgage rate predictions article has been published here: Mortgage Rate Predictions – Rates Find Support this Week? Remember that on Subprime Blogger we are going to release daily mortgage rates and how they correlate to the to 10 year treasury rate; please check back in every morning to get a prediction of where rates are headed based on the daily trading moves of the 10 year treasury rate.

June 23rd – I recently updated my newest article on mortgage rate predictions, please check it out and share with friends: Mortgage Rate Predictions – Rates Remain Stable

Mortgage rates jumped to 5.29% this week, June 3rd, and seem to be headed higher.  Make sure to stay up to date with mortgage rate predictions and mortgage rates forecast so you know where mortgage rates are headed.

June 6th – There is no denying that the 10 year treasury yield is continuing its uptrend so it looks like the mortgage rates forecast is an uptrend in rates that is going to follow the yield.  I would be very surprised if rates buck the trend that the yield has created.  The question that me must now ask is “is this good for the overall housing market?”  If mortgage rates go up, home prices are going to fall, but haven’t home prices fallen enough to help this market?  If you are trying to sell a home in this housing climate it is going to be very interesting to see how you fair.  I wish you the best of luck, but you are likely going to have to lower your offer due to higher mortgage rates.

May 19th – Today we learned that new housing starts and permits came in unexpectedly low.  Housing starts were down 54% when compared to last year.  Some feel that this is showing that the housing market has not stablized.  Honestly, this is the BEST thing for the housing market.  Builders should have slowed housing starts a long time ago before the new housing supply got all the way up to TWELVE months.  We have to get rid of the inventory we have before we start building even more.

If we continue to see new housing starts and permits lower, it will be a very good sign that the home builders have finally figured out that there is a supply/demand imbalance in the market.  I am not really sure why it took so long for the homebuilders to realize this, but that sure seems to be the case.  Overall, this is great news for the housing market but not so good news for mortgage rates.

As soon as the government starts to see a stabilization in the housing market, they are going to stop buying mortgage backed securities which has caused mortgage rates to plummet.  While this is something that may happen in the distant future, it is going to take SEVERAL months of lower housing starts before this takes affect.  With that being said, it is still a great time to go out and get that first mortgage or to refinance your current one.

Category: Mortgage Rate Forecast
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Comments

52 Responses to “Mortgage Rates Forecast – Downward Trend to Continue?”

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