| Having a good idea of where mortgage rates are | | | | stem the flow of refinancing and loan modification |
| headed, can save homeowners or potential home | | | | applications, but still keep a low enough rate to help a |
| buyers, a lot of money. Refinancing, loan modification, | | | | lot of homeowners save their home and avoid |
| or purchasing a home when the interest rates are | | | | foreclosure. |
| lowest, will save you a lot of money every month. So, | | | | I think this 5.19% rate will remain the same until mid |
| here are my home mortgage rate predictions for 2010, | | | | October of 2009, then go back down to 4.69% from |
| and how I came to them. | | | | the middle of October through April 2010. Then the |
| For 2010 I predict that mortgage rates for a 30 year | | | | drastic rate increase of around 1.25% will take place |
| fixed rate mortgage, will be around 5.94% for most of | | | | as the housing market and economy show signs of |
| the year. While that does not seem to much higher | | | | recovery. |
| from the current average rate of 5.19%, it is much | | | | Mortgage modification or refinancing when rates are |
| higher than rates that may be available early in 2010. | | | | their lowest is the best way to save a lot of money |
| Mortgage interest rates were recently increased from | | | | on your home loan. You should take action and do |
| 4.69% to 5.19%. I thought this would happen as a | | | | something about your out of control mortgage and |
| response from mortgage lenders and banks who | | | | refinance now. If you can wait until rates are the |
| were over burdened with applications from hopeful | | | | lowest that is best, however, if your are facing |
| homeowners looking to take advantage of the all time | | | | foreclosure take action now. |
| low interest rates. The rates were increased by .5% to | | | | |