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Mortgage Rates are Going to be MUCH Higher!

Posted on | June 10, 2009 | 5 Comments

In the mortgage rate predictions column I predicted 5.49% this week, but it is likely that rates are going to be MUCH higher.  The 10 year treasury note almost hit 4% just as I predicted before some late selling.  Expect to see rates following the treasury note higher.  This is VERY bad news for a mortgage rates forecast and the immediate future of the housing market.  I hate to say this, but it looks like it is actually going to get worse, possibly much worse.  Many of the rates that were supposed to be locked are not going to get funded now because rates shot up; not good!  All those refinances that were on the books, those may go unfunded and all this government interaction may have gone for naught.

Category: Mortgage Rate Forecast, Mortgage Rate Predictions
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5 Responses to “Mortgage Rates are Going to be MUCH Higher!”

  1. Mortgage online » Blog Archive » Subprime Blogger / Mortgage Rates are Going to be MUCH Higher!
    June 11th, 2009 @ 7:31 am

    [...] the original here:  Subprime Blogger / Mortgage Rates are Going to be MUCH Higher! This entry was posted on Wednesday, June 10th, 2009 at 9:59 pm and is filed under [...]

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    June 11th, 2009 @ 7:33 am

    [...] Subprime Blogger / Mortgage Rates are Going to be MUCH Higher! Related Reading: Mortgages 101: Quick Answers to Over 250 Critical Questions About Your Home [...]

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    [...] news by admin « Mass. reaches $10 million settlement with subprime mortgage lender [...]

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    June 11th, 2009 @ 6:31 pm

    [...] evening I wrote that mortgage rates are going MUCH higher.  The 10 year treasury rate almost hit 4% this week but has seen some heavy selling since the.  [...]

  5. Average Mortgage Rates Lower Due to Government Actions?
    July 3rd, 2009 @ 10:16 am

    [...] rates are eventually go the be set by the free market.  If this is the case, we are likely to see mortgage rates MUCH higher than they are now.  When this happens, we will see another drop in home prices as higher mortgage [...]

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