| Homeowners who are looking into refinancing or | | | | to their low of 4.69%. I believe this will happen around |
| mortgage modification will benefit from knowing when | | | | October of this year, 2009, and last through April 2010. |
| to expect the lowest interest rates of the year. | | | | That means I think mortgage interest rates will be at |
| Getting the lowest mortgage rate possible is the | | | | 4.69% or maybe a little lower, in mid October, and last |
| easiest way to save a lot of money on your home | | | | through at least April of next year. |
| loan. Here are my mortgage rate predictions for 2009. | | | | Why do I think rates will drop again? Well around |
| Right now, a typical mortgage which is a fixed rate, | | | | October, mortgage lenders and banks will have caught |
| and 30 years in length, can be had for around 5.19%. | | | | up with the enormous amount of homeowner |
| While this is still an extremely low interest rate, about | | | | refinancing and mortgage modification applications. The |
| half of what rates were 5 years ago, it is not the | | | | housing market will still need a push, and homeowners |
| lowest it has been, or will get. Earlier in the year, the | | | | will still be struggling. This is a good environment for |
| same home loan could have been gotten for 4.69%. | | | | interest rates to go down to spur some activity in the |
| While it is only a .5% difference, when refinancing or | | | | housing market. To do this, rates will be reduced, and |
| getting a home loan modification, this money can be | | | | homeowners will be welcomed to apply for a money |
| the difference in saving money, or just losing more. | | | | saving refinancing or modification package. |
| However, I believe if a homeowner can wait until | | | | Homeowners who can, should wait. However, even at |
| October to refinance, than the rates will be even lower. | | | | 5.19%, there is a lot of people who could refinance and |
| I predict mortgage interest rates to lower back down | | | | save a lot of money, or even their home. |