Mortgage Rate Trends – Will Rates Go Up or Down?
October 19, 2009 | By Kelley Koehler | Filed Under Home Buying, Loans and Financing
Over at The Mortgage Reports blog, Dan Green keeps a close eye on interest rates and trends.
If we trust history, mortgage interest rates should continue to decline into 2010. The information in the chart below is from Freddie Mac, since 2006.
However, we’re in a different market than we have been in the past few years. There are several conditions that have an upward push on rates – the Fed is ending mortgage market support, inflation concerns on Wall Street, the weakened US Dollar.
Seasonally, rates should go down. Current conditions say they might go up. Will we break trend this year?
Hard to say. If you’re trying to time the market for the lowest rate, you’d better be paying close attention. As should your lender, to alert you in time for you to lock your rate.
Check out the full story here.
Comments
One Response to “Mortgage Rate Trends – Will Rates Go Up or Down?”
Got something to say?
Got A Question? Ask!
Other Information That Might Be Helpful
- Locking Your Interest Rate when Buying a Tucson Home (December 28, 2009)
Getting a home loan can be a big deal. There’s a lot of news out there about interest rates being low – I remember my first interest rate on my home loan was 8% and that was a FABULOUS deal back in 2000. Generally, rates are even lower now; my past few clients have ended [...]
- Interest Rates are On The Move (June 2, 2009)
If you’ve been shopping for a home, you may want to call your lender and check on rates. They’ve been swinging all over the place recently.
Not only have they been moving often, they’ve been making large changes, up over half a point in a day.
In terms of real money, on a $200,000 mortgage, if [...] - Will Mortgage Rates and Home Prices Continue to Decline in Tucson? (November 2, 2009)
Question – will rates and home prices keep going down? Answer – depends on what time period you look at. Let’s start with home prices. Will they continue to go down over the next month? Most certainly. Over the next year? It’s likely. Over the next 5 years? Maybe not. Over such a long term, there’s no way to accurately predict. If you look at the average sales price for homes in Tucson over the last few years, you can see the decline. I’d argue that the drop in home prices is slowing a bit, but there are several factors in play that could make that change – the availability of financing, the levels of inventory, the economy as a whole impacting salaries and the ability to buy and sell a home.
- About Tucson (45)
- Bank Owned Homes (3)
- Canadians and Tucson (2)
- Central Tucson (3)
- East Tucson (3)
- First Time Buyer (28)
- Home Buying (102)
- Home Selling (60)
- Homeowner Associations (6)
- Loans and Financing (42)
- Market Discussion (13)
- Market Reports (46)
- North Tucson (3)
- Northeast Tucson (3)
- Northwest Tucson (5)
- Odds and Ends (66)
- Purchase Contract (2)
- Relocating (9)
- Repair Renovate Maintain (20)
- Restaurants (13)
- South Tucson (3)
- Southeast Tucson (3)
- Southwest Tucson (4)
- Top Ten (2)
- Tucson Events (31)
- Tucson Foreclosures and Short Sales (12)
- Tucson Homes Explained (27)
- Tucson in Photos (4)
- Tucson Land (5)
- Tucson Neighborhoods (19)
- Tucson New Construction (2)
- West Tucson (4)
[...] at mortgage rates, there’s some seasonality there too. I talked about that earlier in this post about rates going up or down. History says rates go down in the fall. But again, there are larger factors at [...]