Current Mortgage Rate Trends – Interest Rates Move Sideways
Posted on | July 31, 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 been quite boring lately as there has been VERY little volatility. It seems like mortgage rates have moved in the range of 5.1% to 5.3% for what seems like a month, although I know it has not been that long. The 10 year treasury rate yield pushed much higher for a few weeks and now that is settling down as well. I truly believe that mortgage rates are going to move up to catch up to the 10 year yield uptrend but no one really knows when that could happen.
With the uptrend of the 10 year yield still intact, one would think that the long term mortgage rate trend has been bottoming for quite some time and is now heading higher. The next few months will go a long way in helping us figure out the trend of overall mortgage rates. The government has worked hard to keep mortgage rates lower but eventually the market is going to set rates and it sure feels like those rates set by the market are going to be much higher than what they currently are.
If you have been thinking about refinancing or getting your first mortgage, now might be as good of a time as any because mortgage rates could pop at any minute. This is especially true if the 10 year yield has another week of being up 10%.
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