Home mortgage loan rates have been everywhere between 5.05% and 5.5% in the month of August.  It seems to come at the drop of a hat as well.  The volatility in 30 year fixed mortgage rates has been quite amazing after a month of seemingly no movement.  For the entire month of July we saw home mortgage rates between 5.1% and 5.3%.  Well, that range has greatly expanded during August from 5% to 5.5%.

It seems that each time we see a strong move one way or the other something happens to bounce average interest rates back the other way.  Every time daily mortgage rates get close to 5% the market takes notice and we see a strong move up in the 10 year treasure rate.  When this happens, home loan rates move all the way up to 5.5%.  It is almost a given that when this happens we will see Ben Bernanke making a speech about how he is going to do everything to keep interest rates at extremely low levels.

This process has gone on for the entire month of August.  This has made it very hard for Subprime Blogger to make mortgage rate predictions that are even remotely accurate.  It now looks as if daily mortgage rates have settled in around the 5.1% to 5.2% range but who knows when we will see that strong move up in the 10 year treasury rate.  No one really knows what is going to happen, but the 10 year yield is sitting at the bottom of its upward trend channel.

The current mortgage rates forecast remains cloudy but the 30 year fixed mortgage rates range of 5% to 5.5% remains intact.  It will be very interesting to see which way mortgage interest rates move in a strong direction to break this trend.  If it is to the downside, we could see a huge refi boom.  If it is to the upside, we could see another slide in home prices.  Only time will tell.

Author: Jesse Wojdylo

The current mortgage rates forecast is extremely clouded right now.  Interest rates have been all over the place for the entire month of August after a very uneventful July.  In July we saw a very narrow range between 5.1% and 5.3% when it comes to the 30 year fixed rate mortgage.  At the end of July we saw a huge move forward by the 10 year treasury rate yield which pushed mortgage rates much higher to start August.

In the first week of August, mortgage rates went from 5.05% to 5.5% in less than five days.  This move up was mostly due to the strong move by the 10 year yield.  Just when most analysts were predicting that average mortgage rates were going to make their way towards 6% we got commentary from the Federal Reserve Bank that interest rates were going to remain historically low.  After this commentary, we saw mortgage rates drop all the way back down to 5.1% within two short days.  This makes it very difficult to give an accurate mortgage rates forecast.

We currently see mortgage rates around 5.2% but that is likely to change as soon as a Fed speech is made.  Is sure seems that every single time mortgage rates inch up towards 5.5% that the Federal Reserve comes out and says they are going to continue to buy United States debt in the form of treasuries.  Well, they have recently announced that by the end of September they are going to stop buying treasuries.  It will be very interesting to see what happens when the Fed does start pulling out of this commitment.

I would imagine that we will continue to see the uptrend of the 10 year treasury rate yield when the Fed stops sinking money into treasuries.  If the 10 year yield continues to push higher, you can expect to see higher mortgage rates, eventually.  We have tested 5.5% several times this year but each time the Fed has come to the rescue by printing more United States dollars.  Now that this is likely to stop by the end of September, are we going to see mortgage rates break that 5.5%.

The current mortgage rates forecast does remain cloudy but that does not mean you cannot get an extremely low mortgage rate. You have seen advertisements all over the Internet for companies offering mortgage rates below 5%.  While you may not know if you have access to these rates, you will never know if you don’t try.  It doesn’t hurt to at least contact them and see if you can get a great deal on a refinance or first mortgage.

Author: Jesse Wojdylo

The current mortgage rates forecast has cleared up but it looks like thunderstorms are ahead of us.  The 10 year treasury rate yield rallied over 10% last week which sent mortgage rates from 5.05% to 5.45%.  This weekend we saw mortgage rates around 5.5% and it looks like they are going to continue higher.  We are seeing a slight pull back in the 10 year yield today but nothing to offset the huge move that we saw last week.  If the 10 year yield continues its assault on 4% we are like to see the 30 year fixed mortgage rate makes its was to 6%.

This is very bad news for anyone who has been waiting on this sidelines to refinance or buy their first home.  If you were waiting to see mortgage rates plummet below 5% then you might be out of luck.  It sure looks to be the case that mortgage rates will be above 6% before they are below 5%.  Unfortunately this totally kills the attraction of refinancing. The costs along with the time and effort to get a 6% mortgage rate might not be worth it.

If you are in the process of refinancing or getting your first mortgage, I would strongly suggest you speed the process up so you can get a lower mortgage rate.  If you wait a few months or even a few weeks, you might be looking at mortgage rates in excess of 6%.

• Daily Mortgage Rates
• Mortgage Rate Forecast
• Mortgage Rate Trends

The current mortgage rates forecast is starting to clear up.  For quite some time interest rates were not acting as if the treasury yield was uptrending.  In fact, as the treasury yield was uptrending, mortgage rates were moving sideways to down.  This is very unusual as there is a strong correlation between the 10 year treasury rate and the 30 year fixed rate mortgage.  When one moves up, the other seems to always follow.  That being said, the 10 year yield has moved up over 10% this week which has forced mortgage rates to move higher.

We have seen a move from 5.05% to 5.46% in four short days.  This is the exact type of move I talked about a few weeks ago.  It would not surprise me at all if we continue to see this type of movement all the way up to 6%.  This would not be good at all for anyone who was waiting to refinance or buy their first home.  There are still mortgage lenders out there that are advertising mortgage rates under 5% but this is not likely to last very long.  If you want to get a low mortgage rate, I would speed up the process as much as possible because rates are just going to get higher.

Next week should be very interesting as far as the 10 year yield and mortgage rates are concerned.  We could see a pull back in both but the long term trend is definitely up and we are likely to see mortgage rates near 6% very soon!

• Daily Mortgage Rates
• Mortgage Rate Forecast
• Mortgage Rate Trends

The current mortgage rates forecast became a little bit more clear over the last week.  For quite some time I have thought that the rising 10 year yield would pull mortgage rates higher.  Well, the exact opposite happened and the low mortgage rates pulled the 10 year yield lower.  If the yield continues to break down below its 50 day moving average, it looks as if mortgage rates could very well go below 5%.

If you have been thinking about refinancing or getting a first mortgage, now might be as good of a time as ever to start doing the research and getting the mortgage application filled out.  Luckily there are plenty of mortgage lenders out there that are advertising mortgage rates well below 5%.  You might think that you do not have a chance to get rate this low but you will never know until you go through the process.

You have taken the proper steps in figuring out where mortgage rates are headed, now it is time to take the next step and see what kind of mortgage interest rate you can get.  The only way you can do this is to actually contact a lender and see what types of offers you can get!

The mortgage rates forecast remains quite unpredictable as the 10 year yield continues to push higher while mortgage interest rates are stable around 5.25%.  Eventually mortgage rates are going to push higher or the 10 year yield is going to fall but the question remains which will happen first?  Well, if the trend that started back at the beginning of 2009 is any indication, it looks as if mortgage rates will start moving higher and the 10 year yield will continue its uptrend past 4%.

I know this is not what most borrowers want to hear but it is the reality of the situation.  For almost 40 years the 10 year yield and mortgage rates have moved in tandem so do not expect anything to change in 2009.  With that being said, if you have been waiting to refinance or get your first mortgage, now is as good of a time as any as mortgage rates remain below 5.25%.  Historically speaking, this is extremely low and most home owners would die for an interest rate this low.

I would suggest contacting several lenders and seeing which one is the best fit for you.  You would be surprised at how much information you can get over the phone and on the Internet.  Make sure to educate yourself before making this big financial decision.  You do not want to have legal trouble later on in the mortgage because you did not pick a reputable lender.

The current mortgage rates forecast continues to be cloudy as interest rates have yet to follow the lead of the 10 year treasury rate yield.  Last week I mentioned that the 10 year yield has moved from 3.3% all the way up to 3.7%.  You would think with a drastic move like this, 30 year fixed mortgage rates would follow.  That has not been the case as mortgage rates have generally moved sideways during the strong push higher by the yield.  That is likely to change, but who knows when?

The last time we saw action like this, there was a huge push higher.  Can we expect the same thing?  Once again, no one knows that answer but 30 year mortgage rates and the 10 year yield will come back together at some point.  Seeing 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 are being reported at 5.25%.  It will be very interesting to see when they react and how fierce that reaction is.

If you have been considering refinancing or getting that first mortgage, now would be as good as a time as ever to do it.  If you wait a few months or even weeks, you could see daily mortgage rates above 6%.

The current mortgage rates forecast is going to get VERY interesting as the 10 year treasury rate jumped almost 4.5% today alone.  This puts the ten year treasury rate yield at 3.7% which means that mortgage rates are VERY likely to move higher.  The assault on 4% for the 10 year yield looks very likely now as nothing Ben Bernanke has done can break the uptrend of the yield.  I would not be surprised at all to see a very strong move in the upward direction from mortgage rates over the next few days and weeks.

If you have been thinking about refinancing or buying your first home, I would do so now as it looks like mortgage rates could hit 6% very soon!  Do not make an irrational decisions just because mortgage rates are likely to jump, but please realize that if you wait too long, you could lose a full percentage point in savings on your mortgage.

Please check out the daily Subprime Blogger rant; today I addressed the issue of Robin Hood Obama:

Robin Hood Obama, this story is all too familiar.  Small businesses are increasing prices and cutting staff because of YOU!  Didn’t you want to increase jobs?  Well, your higher tax policy for the wealthy and health care bill are two ways to increase unemployment

Please read the entire article here: Robin Hood Obama, Stop Taking from the Rich to Give to the Poor

Today the mortgage rates forecast got a little more cloudy.  Ben Bernanke’s speech to the House Financial Services Committee pushed the yield on the 10 year treasury rate much lower which means that we are likely to see lower daily mortgage rates for the near term.  Long term, I still think the overall uptrend remains which will push rates higher by the end of next week.  It will be very interesting to see how rates react this week as the Fed might have run out of bullets for this battle.

In mortgage rate predictions, I actually predicted that mortgage rates would be up this week and I still stand by that as the 10 year yield move last week should keep interest rates above the levels they were at last week.  The movement at the end of this week could go very far in determining what the overall long term forecast is going to be.  If we see another strong bounce off the lower uptrending support line, mortgage rates are likely to move very close to 6%.

Please check out the daily Subprime Blogger rant; today I let Mr. Bernanke know how I feel:

Oh, so you are planning now for the “restoration of fiscal balance?”  I call bullshit!  The more statements that you make, the more I realize that you are full of shit Mr. Bernanke.  Printing money in an attempt to spend our way out of this recession has not worked in the past so why do you think it will in the future?

Read the entire article here: Ben Bernanke, Please let the Markets Set Interest Rates

The current mortgage rates forecast may have greatly changed last week.  When looking at a six month chart of the ten year treasury yield, you can see that a lower upward trendline can be drawn right at the bounce that occurred last week.  To make this even more convincing is the fact that the 50 day moving average served as a level of support on Friday.  Now that the 10 year yield is at 3.65% and likely to move higher towards 4% we are likely to see higher mortgage rates.

I will be the first to admit that I thought the trendline and the 50 day moving average were almost one and the same, but I was wrong.  The lower trendline was actually below the 50 day moving average and we definitely saw a strong bounce off it.  I will post the daily mortgage 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 days.

In the short term, we are definitely going to see higher mortgage rates, but just how high?  Well, check back in to Subprime Blogger to get our mortgage rate predictions article later this evening, July 19th.

Please check out the daily Subprime Blogger rant; today I let Mr. Bernanke know how I feel:

Oh, so you are planning now for the “restoration of fiscal balance?”  I call bullshit!  The more statements that you make, the more I realize that you are full of shit Mr. Bernanke.  Printing money in an attempt to spend our way out of this recession has not worked in the past so why do you think it will in the future?

Read the entire article here: Ben Bernanke, Please let the Markets Set Interest Rates