Mortgage Rate Trends - Trends Showing Higher Mortgage Interest Rates [mortgagedealstips.blogspot.com]
The average rate for a 30-year fixed loan fell to 3.78 percent. That's four straight weeks of lows.
mortgagedealstips.blogspot.com Mortgage Rates Hit Record Low
Current mortgage rate trends are showing that we should expect higher interest rates in the very near future. The trend in the 10 year treasury rate yield that began back in January remains intact and as strong as ever. If this trend continues, we could see the 30 year fixed mortgage rate over 6% before we know it. Obviously this is very bad news for home owners who were hoping to refinance at low rates.
If you were hoping that the mortgage rate trend would reverse and head down, you might have missed the boat. Overall rates have stayed above 5% for two months now and it looks like 6% is the next target. The three decade downtrend that began back in 1982 looks to be bottoming out in the years from 2002 to 2009. This bottoming process could mean that average mortgage rates could head into the double digits in the next few years.
No one wants this to happen, especially the government, but the government is going to be the exact reason we do see higher mortgage rates.
By forcing rates lower through the purchasing of US debt, the Federal Reserve Bank has devalued our currency. As the US dollar drops in value, the 10 year yield increases which causes overall interest rates to move higher. The Fed continues to shell out billions of dollars to buy up mortgage backed securities. This will help to keep rates low now, but eventually, when the dollar gets devalued even more, we are going to see an inflationary period that includes much higher rates. More Mortgage Rate Trends - Trends Showing Higher Mortgage Interest Rates TopicsQuestion by : Where I can find the latest mortgage rate from bank? Hello all, I am looking for a website that can tell me the current mortgage rate or mortgage rate trend. Today, I have called several brokers all of them told me that today's rate is highest in recent days. So I would like to find this info myself. thank you Best answer for Where I can find the latest mortgage rate from bank?:
Answer by My Take on It
http://www.bankrate.com/ Seems the brokers weren't pulling your leg.
Answer by Judy
Google three banks you know followed by the words mortgage rates. Ex: Try Bank of America, Wells Fargo, ING Also try other bank website in your area - they post them Go to bankrate.com and click on mortgage rates and find lenders in your area along with the rates. /
Answer by NeemaF
www.bankrate.com and also check out BoA, Wells & Coldwell Banker. It also depends on your area but some of the local banks are also giving competitive rates. You also have to consider what TYPE of loan you're getting (whether it's jumbo, non-conforming, ARM, fixed, etc). hope this helps.
Answer by Steven
go to Yahoo finance and look up the yield on the 10 year. When the yield goes up the rate goes up and vice versa.... This is the best indicator of market direction for a 30 year fixed rate mortgage. Understand that there is no such thing as "today's rate". Large institutional lenders actually hire outside consulting companies to see where they are verses the competition. Cost or funds vary from lender to lender and they are passed onto you. Add to that loan level adjustments (cost that is added for risk profile) and it's nearly impossible to compare one lender verses another without going through a complete credit application. Yes, prices went up today. Look at the graph over time though. Rates are still incredibly low.
mortgage rate trend
