Average Mortgage Rates Going Higher in June

Posted on | June 14, 2009 | 26 Comments

UPDATE: July 7th – The most up to date average mortgage rates article is available at this link: Average Mortgage Rates – How Will Inflation Affect Interest Rates? If you think inflation is likely to happen in the next few years, this article will hit home. Find out where mortgage rates are headed if we do see an inflationary period.

June 19th – The newest article on average mortgage rate is available here: Average Mortgage Rates Lower Due to Government Actions? In essence, the government continues to make moves to push daily mortgage rates lower but it is creating artificial mortgage rates; is this really good for the economy?

Average mortgage rates have been going higher in June and that trend could continue. Since the end of May, according to Freddie Mac average mortgage rates have gone from 4.8% to 5.59%. This is a jump that the housing market did not need. For the last three years we have seen steady declines in the value of American homes. President Obama and Ben Bernanke did everything in their power to keep average mortgage rates under 5% but free markets eventually won out in early June.

If home prices did not find a bottom when mortgage rates were under 5%, what is going to happen with rates trending higher with the possibility to exceed 6%. There is no doubt that sellers are going to have to lower their prices to sell their homes, but can prices go down any more? A 32% average drop since the top in July of 2006 has been a very rough experience for many, but imagine if the worst has yet to come.

We all know that the subprime mortgage crisis changed the entire mortgage industry, but could it be the cause of a 50% decline in home prices? I honestly believe that if the government had left everything to free markets, we would be out of this housing downturn much quicker. I am by no means saying it would be over by now, but with the fluctuation in average mortgage rates things are going to get very tough for home buyers and sellers. Now that the Obama administration has dove headfirst into printing money in an attempt to lower mortgage rates, what’s next? That didn’t seem to work out too well and we are several TRILLION dollars deeper in debt.

Please make sure to use Subprime Blogger to get your analysis on mortgage rate trends. With the Obama administration printing such a great deal of money, inflation is very likely, so make sure to make wise inflation investments starting today.

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26 Responses to “Average Mortgage Rates Going Higher in June”

Mortgage online » Blog Archive » Subprime Blogger / Average Mortgage Rates Going Higher in June
June 14th, 2009 @ 8:58 am

[...] rest is here: Subprime Blogger / Average Mortgage Rates Going Higher in June This entry was posted on Sunday, June 14th, 2009 at 10:43 am and is filed under [...]
Nashville Real Estat
June 14th, 2009 @ 10:11 am

I couldn’t agree more over the problem with government intervention. Now that the gov’t has promised more ‘bail outs’ what is the average Amercian going to do? That’s right, wait for it instead of jumping back into the market when they see a great deal.
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June 14th, 2009 @ 10:34 am

[...] news by admin « Subprime Blogger / Subprime Mortgage Crisis – Is it Old [...]
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July 2nd, 2009 @ 3:08 am

[...] Please use Subprime Blogger to keep up with current mortgage rate trends. There are also several articles to help you keep up with average mortgage rates. [...]
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July 2nd, 2009 @ 3:08 am

[...] the last two days which has brought the 50 dma up to 3.44%. It will be interesting to see how average mortgage rates react if the 10 year starts a strong uptrend as I think it will. The equation used for the [...]
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July 2nd, 2009 @ 3:51 pm

[...] lenders see fluctuating average mortgage rates and they also notice the the 10 year treasury yield has been in an uptrend for months. I am not [...]
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July 2nd, 2009 @ 4:14 pm

[...] Please use Subprime Blogger to keep up with current mortgage rate trends. There are also several articles to help you keep up with average mortgage rates. [...]
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July 7th, 2009 @ 12:24 pm

[...] information on the 30 year fixed rate mortgage and where it is likely to trend. Keeping up with average mortgage rates could save you thousands over the life of your [...]
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July 7th, 2009 @ 7:43 pm

[...] information on the 30 year fixed rate mortgage and where it is likely to trend. Keeping up with average mortgage rates could save you thousands over the life of your [...]
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July 7th, 2009 @ 9:15 pm

[...] use Subprime Blogger to get your news on average mortgage rates. We also have several articles to help you get the low Chase mortgage rates you [...]
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July 8th, 2009 @ 8:17 pm

[...] well below the 50 day moving average. The actions by the federal government are sure to send average mortgage rates much lower. The government is creating artificial mortgage rates but they seem to not care at all [...]
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July 8th, 2009 @ 8:33 pm

[...] been awhile, but just a quick update that average mortgage rates are likely to head much lower in the coming weeks. The 10 year treasury rate broke down, so [...]
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July 8th, 2009 @ 8:52 pm

[...] President Obama helped the American public greatly by pushing average mortgage rates lower. The actions by the Treasury and Federal Reserve are definitely going to make the 30 year [...]
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July 8th, 2009 @ 9:10 pm

[...] use Subprime Blogger to get your average mortgage rates and analysis on how it will affect the economy. There are also articles that help to assist you [...]
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July 9th, 2009 @ 7:27 am

[...] financing can go through within 30 days. (Remember to lock in a low mortgage rate when you can. Average mortgage rates tend to rise and fall regularly, so you want to get a lower rate if [...]
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July 9th, 2009 @ 9:22 am

[...] use Subprime Blogger to get your information on average mortgage rates. There are also several articles to help you get low mortgage [...]
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July 9th, 2009 @ 10:00 am

[...] use Subprime Blogger to get your news on average mortgage rates. We also have several articles to help you get the low Chase mortgage rates you [...]
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July 9th, 2009 @ 1:41 pm

[...] use Subprime Blogger to get your average mortgage rates information. Knowing where mortgage rates currently are will greatly help you in the home buying [...]
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July 10th, 2009 @ 6:11 pm

[...] were refinancing for under 5% on 30 year fixed rate mortgages. In late May and early June, we saw average mortgage rates jump almost a full point in two weeks. Freddie Mac reported a high of 5.59% for rates in the [...]
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July 11th, 2009 @ 7:05 am

[...] He is offering an $8000 tax credit and the Federal Reserve Bank is working diligently to keep average mortgage rates as low as possible. This is likely bad news for the economy in the long run, but it is great for [...]
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July 11th, 2009 @ 10:14 am

[...] few weeks. After getting to the top of the roller coaster ride, it now looks like it is time for average mortgage rates to come down. Over the last three weeks, we have seen mortgage rates fall from 5.59% to 5.2% and [...]
Church of Cowherd :: Refinance Interest Rates – Moving Higher?
July 17th, 2009 @ 9:07 am

[...] yield rate has pushed much higher this week. The treasury yield was up almost 10% which means average mortgage rates could move MUCH higher next week. It will be very interesting to see what happens, but it would [...]
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July 17th, 2009 @ 9:36 am

[...] loan rates are going to head higher with average mortgage rates. The 10 year treasury rate yield has pushed higher, so you can expect to see higher mortgage [...]
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July 19th, 2009 @ 8:30 pm

[...] rates and 10 year treasury rates article shortly and you will be able to gauge just how much average mortgage rates are likely to increase over the next few [...]
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July 19th, 2009 @ 9:54 pm

[...] up. There is a good chance that Ben Bernanke will make a statement this week that will affect average mortgage rates but who knows what way it will push [...]
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July 26th, 2009 @ 7:43 pm

[...] that the 10 year yield has been in a strong uptrend since the beginning of 2009, my bet would be on average mortgage rates moving higher. As of now, it looks as if mortgage rates should be somewhere around 5.6% yet they [...]

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