Today’s Lowest Mortgage Interest Rates – Refinance Rate Trends Have Reversed and the Forecast May Chance for Home Loans
Posted on | November 16, 2010 | No Comments
As the 10 year treasury rate yield continues to rise it is the case that 30 year fixed refinance mortgage rates have moved from 4% to 4.3%. When looking for today’s lowest mortgage interest rates many homeowners will find that it is no longer the case that 30 year fixed rates are at all-time lows. With refinance rate trends turning it will be interesting to see just how high mortgage rates go.
Each and every time economists change the forecast for overall mortgage interest rates it seems to be the case that the federal reserve bank takes action to push interest rates lower. In November of 2010 it will be very interesting to see what the Federal Reserve Bank chairman does as mortgage interest rates have moved up very quickly as the 10 year treasury rate yield has bounced off its bottom up 2.5%.
With the 10 year yield now at 2.9% and well above its 50 day moving average it will be interesting to see just how high the yield goes before funding overhead resistance. In the very near future it could find resistance at the 200 day moving average but this is still much higher than the current levels. It is quite possible that 30 year fixed mortgage rates could move up to 4.5%.
With this in mind many homeowners may think that this is the last opportunity to receive today’s lowest mortgage interest rates. Unfortunately, no one can truly predict the mortgage rate forecast as the federal reserve bank continues to take action. When the Federal Reserve takes their hand out of the pot there is a very good possibility that we will see interest rates move much higher in the near future but no one knows when this time will come.
It is also important to remember that when looking for today’s lowest mortgage interest rates it is often the case that it takes a very impressive credit score and have low debt to income ratio to have any opportunity to lock in to these low refinance rates. Without a credit score above 748 could be extremely difficult for a large number of homeowners to receive these low interest rate offers.
Author: Alan Lake
Tags: mortgage interest rates > mortgage interest rates today > mortgage rate trends > mortgage rates forecast > refinance rate trends > today's lowest mortgage interest rates
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