Mortgage Rate Predictions – March 27th – Subprime Blogger Hit the Nail on the Head
Posted on | March 26, 2009 | 4 Comments
On Monday, this was the prediction I made:
Now that mortgage interest rates have made national headlines, we can expect to see an increase in mortgage applications. This swarm of mortgage applications will keep rates from freefalling but I do not expect them to hold up for very long. This week my prediction is 30 year fixed rate mortgage – 4.88%
Today Freddie Mac released their weekly data showing average mortgage rates fell to 4.85%. Once again, it was a prediction that was within percentage points. This is not the first time this has happened as last weeks predictions were with .01%.
Mortgage rates were bound to drop as the Federal Reserve Bank injected over a trillion dollars into the economy. The tricky part about the current prediction is that almost all analysts predicted rates to be well under 4.75%. Of course I knew this would not be the case as that would be the largest drop, by far, in the history of mortgage rate data.
Make sure to check back every Monday as I will predict weekly mortgage rates. Return each Thursday to see how accurate my prediction was. Make sure to bookmark the link below to access this information easier.
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March 26th, 2009 @ 4:27 pm
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March 26th, 2009 @ 8:20 pm
[...] Subprime Blogger Mortgage Rate Predictions – March 27th – Subprime Blogger Hit the Nail on the Head [...]
March 27th, 2009 @ 6:16 am
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March 28th, 2009 @ 7:58 pm
[...] See the original post: Subprime Blogger / Mortgage Rate Predictions – March 27th … [...]