| Even a small percentage difference makes a huge | | | | homeowners who just wanted to save money pause |
| difference when is comes to mortgage rates. | | | | on applying, while homeowners who were truly facing |
| Homeowners looking to save the most money through | | | | financial hardships could still save their home. However, |
| refinancing or mortgage modification would benefit | | | | I think all homeowners will be happy with my mortgage |
| from having a good idea of what to expect from | | | | rate predictions for the rest of 2009 and into 2010. |
| mortgage rates in 2009 and 2010. Here are my home | | | | I predict that mortgage rates will drop to their prior |
| mortgage rate predictions for the rest of this year | | | | lows of 4.69%, and this rate will last all the into 2010. |
| through 2010, and how I made them: | | | | Sometime around October 2009, I think the home |
| 4.69% was the average rate for a typical 30 year | | | | interest rates will be lowered to this 4.69% rate in |
| fixed rate home loan earlier in 2009. However, since | | | | order to attract new customers, and help more |
| these rates were so extremely low, homeowners | | | | homeowners who are facing foreclosure or other |
| rushed to mortgage lenders and banks to refinance or | | | | financial problems. I also think that this mortgage rate |
| get a home loan modification. This quickly led to a | | | | will last through April 2010 or so. Then will again be |
| record number of applications, and the mortgage | | | | increased by at least .75%. So be sure to get a home |
| lenders and banks got backed up with application from | | | | mortgage refinancing or modification when the rates |
| homeowners looking to save money. In order to slow | | | | are, at least predicted by me, this low. |
| down the amount of requests for refinancing or | | | | Homeowners facing financial hardships or losing their |
| modification, the lenders needed to raise interest rates, | | | | home should take action and do something about while |
| in this case they did so by .5%. Right now a 30 year | | | | interest rates are so low. Homeowners who are |
| fixed rate mortgage can be had for around 5.19%. | | | | looking to save money and can wait, should. |
| While theses rates are still very good, it made | | | | |