Refinance Home Loan Rates Follow Interest Rates Higher
Current refinance home loan rates are following interest rates higher. Last week mortgage rates started to move up and it looks like that will continue into this week. It seems that unless the Federal Reserve Bank makes an announcement that they are going to buy up massive amounts of debt, mortgage rates move up. There is a good chance that Ben Bernanke will make a statement this week that will affect average mortgage rates but who knows what way it will push them.
President Obama and Ben Bernanke have done everything in their power to keep mortgage rates below 5% but it seems like they are running out of bullets. Sadly, this could cause home prices to fall even more as higher home loan rates will mean lower average home prices. This might be exactly what the housing market needs to flush out the bottom and find a stabilization so home prices can state appreciating.
Overall it looks as if refinance home loan rates are going to move up this week but only time will tell how high they are going to go. If you have been thinking about refinancing your current mortgage, it would be advisable to get that done as soon as possible as mortgage rates could be above 6% in the very near future.
Comments
4 Comments on Refinance Home Loan Rates Follow Interest Rates Higher
-
Fixed Interest Mortgage - Rates Going Up, Lock in Now! - Economic Conversation on
Mon, 20th Jul 2009 11:31 am
-
Wells Fargo Refinance Mortgage Rates - Interest Rates Moving Up - Economic Conversation on
Fri, 24th Jul 2009 6:50 am
-
Bank of America Refinance Mortgage Rates - Interest Rates Headed Up - Economic Conversation on
Fri, 24th Jul 2009 8:50 am
-
Bad Credit Mortgage Refinance - What Interest Rate Will You Get? - Economic Conversation on
Fri, 24th Jul 2009 12:04 pm
[...] most important bit of advice when going through the refinance process or getting your first mortgage is to educate yourself on the subject. If you know the exact [...]
[...] a full percentage point in one day. This is very bad news for anyone who was planning to wait on refinancing or buy their first home. With the current situation, if you wait one day too long, you could lose [...]
[...] rates do catch up to the uptrending 10 year yield it is going to get ugly for those who wanted to refinance at a lower rate. Many home owners were waiting for Bank of America refinance mortgage rates to [...]
[...] the beginning of last week and that trend is likely to continue. If this continues, look for average mortgage rates to work their way back above 6%. Sadly, this is going to come as a shock to many because they do [...]
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!