| Mortgage interest rates are they key to saving money | | | | nearly half of what interest rates were only 10 years |
| when refinancing a mortgage. Currently, mortgage | | | | ago. |
| rates are near all time lows, and many people are | | | | However, I think that 5% rate will rise throughout 2010. |
| taking advantage by refinancing into these ultra low | | | | This will make refinancing a mortgage not so beneficial |
| rates. However, I predict that in mortgage rates will | | | | for many people, and will cost the others more money |
| change, and I think I know when and how much. Here | | | | than it would have if they were to take action now. I |
| are my mortgage interest rate predictions for the rest | | | | predict that around April of this year, mortgage interest |
| of 2010, and how I made them. | | | | rates will rise around .75% bringing the total to 5.75%. |
| While it is impossible to accurately predict anything, we | | | | While this is not an insanely high jump in interest rate, it |
| do have some really good information and indicators to | | | | will be followed in the following months with minor |
| make an educated guess with. Throughout 2009 and | | | | increases. The total mortgage rate increase by the |
| even now, mortgage rates for traditional 30 year fixed | | | | time 2010 is over will be around 1.5%. This means I |
| rate mortgages have been near record lows. Many | | | | predict home interest rates will rise in 2010 ultimately |
| factors attribute to this including Government housing | | | | resulting in a 1.5% increase. |
| stimulus programs, and an eager need for mortgage | | | | I think that this will happen due to an improved housing |
| lenders and banks to prevent foreclosures and restore | | | | market, lower foreclosure numbers, and better |
| stability to the housing market. Since so many people | | | | employment prospects for millions of homeowners. I |
| are having financial troubles, interest rates dropped to | | | | think that the housing marker has seen its worst days, |
| allow many to get a refinancing and prevent losing | | | | and the better ones will be coming this year. That |
| their home, save money every month, and secure their | | | | means interest rates will rise as homeowners are |
| financial problems. This has led to an interest rate that | | | | struggling less, and require less assistance in saving |
| was around 5% for a fixed rate mortgage. That is | | | | their homes. |