| Mortgage refinancing is extremely popular right now | | | | stability. Now though, I believe that the housing market |
| due to near record low mortgage interest rates and | | | | has seen its worst days, and things will get better in |
| new Government housing bailout programs. Millions of | | | | 2010. This means that mortgage rates will rise. I think |
| people will benefit by refinancing now and avoiding the | | | | that around April mortgage interest rates will rise, and |
| mortgage rate increase I predict to happen later in | | | | continue to do so throughout the year. I predict that |
| 2010. Here are my mortgage interest rate forecasts | | | | when all is said and done, mortgage interest rates will |
| and predictions for 2010, and how I made them. | | | | be around 6.70% as opposed to the 5% they are now |
| Right now the housing market is in terrible shape and | | | | for a typical 30 year mortgage. |
| over $75 billion from Obamas stimulus plan is being | | | | A small 1.70% rate increase seems insignificant, but in |
| used to keep interest rates low and provide mortgage | | | | reality it will eliminate the benefits that refinancing a |
| refinancing options to nearly every homeowner. These | | | | mortgage will have for some people. This rate |
| mortgage refinancing options are available to | | | | increase also means that anyone who does refinance |
| homeowners with bad financial problems and are | | | | will end up paying more for their home than if they |
| designed to lower the monthly home loan payment to | | | | were to refinance now, regardless of their financial |
| an affordable level. This means that a lot of the | | | | situation. |
| stimulus plan is being used to keep mortgage rates low | | | | Homeowners should refinance a mortgage now and |
| in general, and this makes refinancing a mortgage for | | | | avoid the possible rate increases I predict will happen. |
| anyone a very good thing to consider. | | | | Do not let the rates rise before you take action, save |
| Also, since the housing market is in such bad shape, | | | | yourself money and refinance now. |
| interest rates had to stay low to provide some market | | | | |