Mortgage Rate Predictions – Bernanke Says Lower Interest Rates
Posted on | July 21, 2009 | No Comments
Please use Subprime Blogger to get your weekly mortgage rate predictions. There are also several articles on getting the best home loans for your needs.
Even though there has been a drop in the 10 year treasury rate yield over the first few days of the week, I will reiterate that I believe mortgage rates are going to move higher. After Fed Chairman Benanke spoke in front of the House Services Financial Committee the 10 year treasury rate yield tanked over 3%. This did push the 10 year yeild through the 50 day moving average, but the lower upward trending support line remains intact.
If will be very interesting to see how the remainder of the week plays out. Now that Bernanke has done his best to push interest rates lower, what will happen now? I think that we could possibly see a test of the lower trendline and then we will continue to move higher. This is if another major announcement is not made during this period of time. Only time will tell but I will keep my mortgage rate predictions at:
30 Year Fixed Rate Mortgage – 5.42%
Check back in Friday to get the complete summary for the week.
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
Comments
Leave a Reply