2009-2010 Mortgage Interest Rate Predictions
Predicting mortgage interest rates can be tricky. We do have some good information to work with though and make a good prediction. Here are my 2009 and 2010 mortgage rate predictions, and how I made them:
Early in 2009, home mortgage interest rates were around 4.69% for a standard fixed rate 30 year mortgage. These were some of the lowest recorded interest rates in history, and homeowners across the country saw the low rates and took advantage by refinancing or loan modification. Mortgage lenders and banks became flooded with applications from all types of homeowners, and had to do something to slow down the massive amount of paperwork that was piling up. A mortgage rate increase of .5% took effect around May of 2009, which was expected. I thought this would happen as a way for mortgage lenders and banks to catch up with the already filed applications.
This rate increase was minimal enough to still allow truly struggling homeowners a chance to refinance, but enough that homeowners just looking to save money, with no real financial hardships, held back on applying until rates were lower again. This rate of 5.19% is still low enough to help homeowners save themselves form defaulting on their mortgage, or being foreclosed on and losing their home. This is still a good rate to refinance or get a home loan modification. So right now, a typical 30 year home loan will have a 5.19% fixed interest rate. This is where my predictions come into play.
I predict that mortgage interest rates will again be lowered to their prior lows of around 4.69%. This will be sometime around the middle of October this year and should last until April 2010. October of this year will be just about when mortgage lenders and banks catch up with the prior applications, and be ready for a new wave. If you can wait a little you should, however if you are risking your home or finances, take action now.
At my site I will teach you how to properly refinance or modify a home mortgage saving you thousands of dollars, or even your home. A lot of Greedy Mortgage Lenders will try to suck you dry if you let them. Learn the right way to refinance or modify your home loan at my site: http://www.refinancingcondo.com
Article Directory: EzineArticles http://ezinearticles.com
More Mortgage Stuff:
Predicting mortgage interest rates can be tricky. We do have some good information to work with though and make a good prediction. Here are my 2009 and 2010 mortgage rate predictions, and how I made them: Early in 2009, home mortgage interest rates were around 4.69% for a standard fixed rate 30 year mortgage. These were some of the lowest recorded interest rates in history, and homeowners across t…
Homeowners who are looking into refinancing or mortgage modification will benefit from knowing when to expect the lowest interest rates of the year. Getting the lowest mortgage rate possible is the easiest way to save a lot of money on your home loan. Here are my mortgage rate predictions for 2009. Right now, a typical mortgage which is a fixed rate, and 30 years in length, can be had for around 5…
Homeowners who are looking into refinancing or mortgage modification will benefit from knowing when to expect the lowest interest rates of the year. Getting the lowest mortgage rate possible is the easiest way to save a lot of money on your home loan. Here are my mortgage rate predictions for 2009. Right now, a typical mortgage which is a fixed rate, and 30 years in length, can be had for around 5…
A lot of people are very interested to have an idea of where home mortgage interest rates will head in 2009. Even with the housing stimulus plan in full effect, the economy, and especially the housing market, are struggling. Right now, interest rates have jumped around .5% from just a few weeks ago, as I predicted they would in January. Here is the exact quote of mine “Over all I predict that home…
A lot of people are very interested to have an idea of where home mortgage interest rates will head in 2009. Even with the housing stimulus plan in full effect, the economy, and especially the housing market, are struggling. Right now, interest rates have jumped around .5% from just a few weeks ago, as I predicted they would in January. Here is the exact quote of mine “Over all I predict that home…
With Home Refinancing and Modification applications being turned in at an amazing pace, a common question from homeowners is “What are the Home Mortgage Rate Predictions for 2009?” Now more than ever, homeowners want to know what the housing market will bring in the future, and here is some help. Right now all across the country, home mortgage rates can be obtained around 5%. These are some of the…
With Home Refinancing and Modification applications being turned in at an amazing pace, a common question from homeowners is “What are the Home Mortgage Rate Predictions for 2009?” Now more than ever, homeowners want to know what the housing market will bring in the future, and here is some help. Right now all across the country, home mortgage rates can be obtained around 5%. These are some of the…
A loan is often taken out at the time of buying a house, although the motive or reason for each person is different. Some could be taking a loan for marriage, property clashes, health problems, investment or losses in business etc. but the majority goes to buy a house. Getting a house these days is not an easy task, firstly the right kind of house suiting the environment is required and then the c…
A loan is often taken out at the time of buying a house, although the motive or reason for each person is different. Some could be taking a loan for marriage, property clashes, health problems, investment or losses in business etc. but the majority goes to buy a house. Getting a house these days is not an easy task, firstly the right kind of house suiting the environment is required and then the c…
Learning how to get the best or lowest interest rates on a new home loan is simple and just takes a little bit of know how on how to impress the lenders. Basically, the lenders want to feel secure that you are a good borrower, and it will be safe to loan money to you. Securing a low home mortgage interest rate requires that you can show the following attributes. 1) Great, (Not Good), Credit Score….
Posted in Loan Mortgages