Mortgage Rate Predictions – April 13th – Mortgage Rates Edge Higher
Posted on | April 12, 2009 | 1 Comment
Last week the Freddie Mac weekly survey showed a bounce in mortgage rates just as I had predicted. I think part of this is psychology, but a lot of it has to do with the fact that mortgage lenders are getting swarmed with mortgage applications. The only way to slow down the influx of mortgage applications is to increase rates so every advertisement does not say “mortgage rates at all time lows.” I think that there will be very little movement this week from the 4.87% of last week, but I do see rates edging higher.
I know many of you come here in hopes to see mortgage rates continuing to fall, but that is just not going to happen for a short period of time. There is no need to worry as the overall trend is down and the government will continue to push mortgage rates lower. President Obama and Tim Geithner don’t have a clue as to how to find a bottom in the housing market, but they feel lower rates will do the trick. Has it work yet guys? I digress, this weeks mortgage rates predictions are:
30 year fixed rate mortgage – 4.92%
Tune in on Thursday when Freddie Mac released their data at this site. As always, I hope you come back to Subprime Blogger as your mortgage news source. I am attempting to write multiple articles a day to increase my reader base. Please tell your friends to join in on the conversation. Bookmark the link below for easier access to mortgage rate predictions.
Tags: housing market > mortgage lenders > mortgage news > psychology
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April 13th, 2009 @ 9:09 am
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