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Mortgage Rate Predictions – Mortgage Rates Stabilize in Late June?

Posted on | June 14, 2009 | 4 Comments

Make sure to use Subprime Blogger to get your mortgage rates forecast.  Rates have went for an unbelievable ride for the last few weeks, so stay up to date on mortgage rate trends.

Over the last few weeks, we have seen mortgage rates go for quite the ride; up from 4.8% to 5.59%.  Most of this uptick has come from the fact that the 10 year treasury rate has been in bull market mode since the beginning of 2009.  Just last week, the treasury yield hit right under 4% but has pulled back greatly.  With this pull back, I expect to see mortgage rates do the same thing.  The greatest concern I have is not the fact that mortgage rates are now hovering around 5.6% but the sentiment of the American public.  If you ask anyone who is attempting to buy or refinance a home, they truly believe that mortgage rates are going to the moon.

As I have said for quite some time, most current home owners would have take a 5.5% mortgage in a heartbeat when they bought their first home.  It is not like mortgage rates are high historically speaking. That being said, we all know that the old adage “what have you done for me lately” is in full force with the housing market.  Well, what the housing market has done lately is lose 1/3 of its value and given very volatile mortgage rates.  With that being said, I believe we will see mortgage rates start to stabilize in late June as there is no way that the 10 year treasury rate can continue it’s meteoric rise.  There must be a pull back sometime and hopefully it comes sooner rather than later.

Mortgage rate predictions for June 18th:

30 year fixed rate mortgage – 5.54%

Category: Mortgage Rate Predictions, Refinance Rates
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Comments

4 Responses to “Mortgage Rate Predictions – Mortgage Rates Stabilize in Late June?”

  1. Mortgage online » Blog Archive » Subprime Blogger / Mortgage Rate Predictions - Mortgage Rates …
    June 14th, 2009 @ 3:35 pm

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    June 14th, 2009 @ 6:22 pm

    [...] June 15th – The newest article – Mortgage rate predictions – Mortgage Rates Stabilize in Late June? [...]

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    June 14th, 2009 @ 7:53 pm

    [...] The newest mortgage rates prediction for June 15th article is up; please check it out.  There will be a new mortgage rates forecast [...]

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    [...] news by admin « Subprime Blogger / Average Mortgage Rates Going Higher in June topic: [...]

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