| Getting the lowest interest rates possible makes a | | | | around 5.15%. This rate is extremely low, and not too |
| refinance more beneficial for a homeowner. Mortgage | | | | much higher than the lowest rates have been all year. |
| rates have been low most of the year. However, I | | | | However, I believe that around April of 2010, things will |
| predict things will change in 2010. Here are my | | | | change, and interest rates will rise slightly. I predict that |
| mortgage rate predictions for the rest of 2009 and | | | | mortgage rates in April of 2010 will rise to around 6.2% |
| 2010. | | | | due to a recovering housing market, and a promising |
| While the housing market is in bad shape right now, | | | | economy. These mortgage rate increases will |
| mortgage rates are low to encourage activity in the | | | | represent progress being made in stabilizing home |
| market, and help homeowners save their home from | | | | values for homeowner everywhere across the |
| being lost. With rates as low as they are, homeowners | | | | country. Although it seems small, this would represent |
| can usually refinance their mortgage into a better, | | | | a lot of money over the course of a home loan. |
| cheaper, more affordable monthly payment. This helps | | | | Homeowners who can, should take advantage of the |
| prevent the housing market from getting worse, and | | | | lowest mortgage interest rates possible when they |
| spurs activity and interest in existing home loans, and | | | | decide to refinance their mortgage. In my opinion that |
| for new home buyers. However, I do not think the | | | | time is right now, as I predict interest rates to rise. |
| housing market will get any worse than it is right now, | | | | However, each homeowners situation is different, and |
| and that is why my mortgage predictions for 2010 call | | | | the time to take action may be too. While there is no |
| for an interest rate hike. | | | | proof mortgage interest rates will rise, the housing |
| While this mortgage rate increase will not be major | | | | market has pretty much bottomed out, meaning the |
| enough to seriously discourage homeowners from | | | | only way to go is up. Decide for yourself what is best, |
| getting refinancing, they will be noticeably higher. Right | | | | but these are my mortgage rate predictions for 2009 - |
| now, a typical fixed rate mortgage can be had for | | | | 2010. |