Posts Tagged ‘mortgage rate trends’

Will mortgage rates start to climb?

If you’ve kept up with mortgage rates over the past several months you have noticed that they have been somewhat steady. Rates sharply declined at the end of last year and continued the downward fall until just recently. Will mortgage rates stay steady, start to increase or continue to decrease over the next several months?

I’m not a mortgage rate expert or by no means am I qualified to predict mortgage rate trends, but if you are in a variable interest rate mortgage loan I would seriously consider getting into a fixed rate mortgage soon, why?

As I mentioned earlier mortgage rates have been somewhat stable for the past several months. Fixed interest rates continue to hover around the 5.5% mark which is a great rate. With some positive signs of recovery from the U.S. economy it’s doubtful that the rates will take any significant drop over the next few months. Therefore I think it’s a great time to lock in a fixed rate interest rate around 5.5%.