Current Mortgage Rate Trends – Interest Rates Stable?
Posted on | July 28, 2009 | No Comments
Please use Subprime Blogger to get your mortgage rate trends; all trends articles are updated Monday, Wednesday and Friday. There are also several articles to help you get a home loan modification.
Current mortgage rate trends have not changed much as there has not been much movement in the 10 year treasury rate yield this week. The 10 year yield still sits around 3.67% which is still well above the level for average mortgage rates, but it looks like mortgage rates are not going to budge quite yet. It will be interesting to see which one moves first; does the 10 year yield come down or does the 30 year fixed rate mortgage go up. Seeing as the 10 year yield has been in an uptrend since the beginning of the year, I would say that mortgage rates will go up.
If you have been thinking about refinancing or getting your first mortgage, now might be as good of a time as ever as mortgage rates are still at historic lows but are likely to move higher. Average mortgage rates are around 5.2% now, but it is very possible that we could see them move up drastically in the near future. I would suggest contacting several lenders to see what types of offers they can make for you. Obviously they will not be able to give you an exact interest rate but they should be able to tell you a little bit about where the market is headed.
Do not sit on the fence too long as mortgage rates could be around 6% soon if the 10 year yield continues to push higher. Take action and complete that mortgage application that has been sitting around for the last few months.
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