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Mortgage Rate Predictions – Quick Update

Posted on | July 9, 2009 | No Comments

In this weeks mortgage rate predictions column I predicted

30 year fixed rate mortgage – 5.35%
ACTUAL 30 year fixed mortgage – 5.2%

There is little doubt that the purchasing of debt by the Fed threw me for a loop.  Next week is going to be very intersting as many market pundits on CNBC have stated that they expect to see average mortgage rates go all the way back down to 4.8%.  If this is the case, many home owners are going to sprint to their lenders to refinance.  I am not sure that rates will go that low, but who knows with Bernanke printing money like its paper, oh wait!

One thing is for sure, expect to see current mortgage rates lower.  I am not sure if this is going to help the overall housing market, but it will definitely help the common home owner get a lower mortgage rate.  If you have debated it in the past, I would go ahead and do it now because in the future, we are going to see MUCH higher interest rates and likely hyperinflation.  Now is the time to lock in at these historically low mortgage rates.

Category: Mortgage Rate Predictions
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