Mortgage Rates Forecast – Interest Rates Show No Volatility
Posted on | July 31, 2009 | No Comments
Please get your mortgage rates forecast at Subprime Blogger. Return every Monday, Wednesday and Friday as that is when the forecast is updated.
The current mortgage rates forecast has not changed at all over the course of this week. This has been a week in which mortgage rates have moved from about 5.2% to about 5.25% and that’s it! It is to be expected as this is the last week in July and there are many Americans who are on vacation. Even the trading on the stock exchanges is way down due to the traveling season. What makes current mortgage rates very interesting is the fact that the 10 year yield remains extremely high when compared to average mortgage rates.
Usually when this happens, there is a one week period in which mortgage rates push higher to catch up to the trading of the 10 year yield. This has yet to happen and it is going to be very interesting to see when it does. I would imagine that when most traders get back from vacation, college football season is getting started and the fall is upon us, we will see mortgage rates catching up to the 10 year yield.
If you have been thinking about refinancing or getting your first mortgage, now might be as good of a time as any as mortgage rates are still hovering around 5.25%. Historically speaking, this is about as low as mortgage rates get minus that short period of time back in March when rates were actually below 5%.
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