Mortgage Rate Predictions – Interest Rates Moving to 6%?
Posted on | July 26, 2009 | No Comments
Please use Subprime Blogger to get your weekly mortgage rate predictions. The new mortgage rate predictions articles are posted every Monday, Wednesday and Friday so please check back in.
Mortgage rate predictions are going to be very tough this week as the 10 year treasury rate yield has moved higher while 30 year mortgage rates have not moved significantly. This is quite interesting as the last time this happened we saw average mortgage rates move drastically over a one week period. Is this week going to be the same? I personally think that the buying up of US debt by the Federal Reserve Bank has made rates artificially low but that is going to eventually change.
With this knowledge, this weeks mortgage rate prediction
30 Year Fixed Rate Mortgage – 5.42%
Yes, this is exactly what I predicted last week, but lets go with it again as I truly believe mortgage rates are going to move up and catch up to the 10 year yield. If that does not happen, it is VERY likely we will hear some big news from Ben Bernanke about future monetary moves by the Federal Reserve Bank.
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