Daily Mortgage Rates Becoming Less Volatile

Daily Mortgage Rates Becoming Less Volatile

Daily mortgage rate are something that many home owners do not keep up with. Honestly, it seems that many Americans just take whatever rate that is offered to them that seems acceptable. Prior to the previous week, average rate were quite volatile involving swings as much as a full percentage point in less than a week. This makes it very challenging to decide what a decent rate offer is. Unfortunately, many Americans went to banks and got home loan rates that were much higher than they should have accepted.

When looking at Wells Fargo mortgage rates, you are likely to see quite unusual movement in the month of June. There was actually a two week period in which overall rates moved from 4.8% to 5.59% and back down to 5.39%. This is not good for anyone as the uncertainty pushes people away. Many Americans are afraid to sink their money in the housing market as it is, so fluctuating mortgage rates makes them even more fearful.

The best way to avoid this fear is to educate yourself on the market. If you know where rates have been and where they are currently, you will have a much better chance at predicting where they are going to go. It is hard to imagine that many Americans who buy a home do not even consider making a mortgage rate prediction before going through the home buying process. Do home owners not realize that they could save over $ 20,000 during the years that they are making a mortgage payment? I guess the answer to that question is no.

Daily Mortgage Rates – Where Are Interest Rates Going in September?

Daily mortgage rate are something that many home owners do not keep up with. Honestly, it seems that many Americans just take whatever rate that is offered to them that seems acceptable. Prior to the previous week, average rate were quite volatile involving swings as much as a full percentage point in less than a week. This makes it very challenging to decide what a decent rate offer is. Unfortunately, many Americans went to banks and got home loan rates that were much higher than they should have accepted.

When looking at Wells Fargo mortgage rates, you are likely to see quite unusual movement in the month of June. There was actually a two week period in which overall rates moved from 4.8% to 5.59% and back down to 5.39%. This is not good for anyone as the uncertainty pushes people away. Many Americans are afraid to sink their money in the housing market as it is, so fluctuating mortgage rates makes them even more fearful.

The best way to avoid this fear is to educate yourself on the market. If you know where rates have been and where they are currently, you will have a much better chance at predicting where they are going to go. It is hard to imagine that many Americans who buy a home do not even consider making a mortgage rate prediction before going through the home buying process. Do home owners not realize that they could save over $ 20,000 during the years that they are making a mortgage payment? I guess the answer to that question is no.

Daily mortgage rates are down to almost 5% again. We have not seen average mortgage rates below 5% since the beginning of April and it would lead to a huge refi boom if this did happen. We are going to see a swell of mortgage applications if rates drop below the psychological level of 5%. This would also be great for the economy as all those lower rates will put more money in the pockets of Americans.

Hopefully the money that goes back into the pockets of Americans will go back into the economy and we will see some stimulation. Lower daily mortgage rates will definitely help with this. Part of this is psychological because home owners have the mindset that they can get a refinance under 5% which will give them the extra money that they need. This is likely to cause them to spend a little more money that they once were saving.

No one really knows where rates are going to go but the government is working very hard to push overall rates under 5%. We continue to hear this from President Obama and Federal Reserve Chairman Ben Bernanke. Every single time you think rates are going to head higher, we see a speech on television about how the government is going to continue to do whatever it takes to get all Americans the lowest interest rate possible. Who knows what this will do to rates in the future but right now it is making for a very interesting time in the mortgage market.

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