Home Mortgage Loan Rates – Mortgage Interest Rates Set to Drop in Late March?
Posted on | March 18, 2010 | No Comments
Home mortgage loan rates have defied many analysts as the 30 year fixed mortgage rate is still well below 5%. Most analysts predicted higher mortgage interest rates in 2010 but at the present time rates are stable or actually dropping. Many current and future homeowners would like to know if mortgage rates are set to drop in late March.
When looking at the 10 year treasury rate yield you can clearly see that the 50 day and 200 day moving averages are up trending but the yield is currently below the 50 day moving average. There is a very good chance that it will have to test the 200 day moving average before making another leg up.
With this in mind we can expect the 30 year fixed mortgage rate to drop slightly while the 10 year yield is testing its 200 day moving average. This process could take one day or it could take several weeks; only time will tell. With mortgage rates at 4.75% for the 30 year fixed it doesn’t seem there is that much room to drop.
Most mortgage lenders are advertising low mortgage interest rates at the present time. If you are in a very good financial position then this is a great time to lock in to a low mortgage rate. If you are in a bad financial position you are going to find working with a mortgage lender to be very difficult.
Author: Alan Lake
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