| Personally, I think that homeowners looking into | | | | to refinance for too long will be in for a shock that |
| refinancing should make the move soon. Right now, | | | | interest rates have increased. I think that around April |
| mortgage interest rates are at near all time lows, and | | | | 2010, mortgage rates will jump up to around 6.15%. this |
| do not seem to be getting any lower. However, there | | | | sounds minimal, only 1% or so, but in reality, that 1% is |
| is still a little time before I predict mortgage rates | | | | the difference for many people between saving a lot |
| increase. Here are my mortgage interest rate | | | | of money, and not benefiting at all from a refinance. I |
| predictions for 2010. | | | | think that the rates will rise because they can not get |
| Right now, mortgage rates have been hovering around | | | | lower, and the housing market will improve in the |
| the 5.19% mark for a typical fixed rate 30 year home | | | | coming months. With the housing market improving, the |
| loan. However, with rates being that low, and with | | | | entire economy will benefit. With that, money will be |
| millions of homeowners a;ready getting help from the | | | | flowing again, and rates will rise accordingly. Also, by |
| Obama stimulus plan, interest rates are bound to go up. | | | | April of 2010, many homeowners who were in the |
| While the housing market is not showing signs of | | | | worst shape will have gotten relief from Government |
| turning around for the better any time soon, it is not | | | | provided programs designed to aid homeowners at |
| getting worse either. This is because a lot of the | | | | risk of losing their home. |
| struggling homeowners have taken advantage of new | | | | Homeowners need to take advantage of the low |
| refinancing options and Government bailout plans. | | | | interest rates available today and take action. While |
| Homeowners who still had decent credit, but knew | | | | predicting mortgage rates is not entirely accurate, |
| something needed to change, got into a much lower | | | | there are many good indications, some of which I have |
| interest rate on their own before the economy went | | | | included here, that point to a rate increase sometime in |
| horrible. | | | | the near future. Refinance or get into a better more |
| With that in mind, here are my mortgage interest rate | | | | favorable mortgage now while rates are low and |
| predictions for 2010. I think that homeowners who wait | | | | lenders and banks are looking for more customers. |