Pragmatic Mortgage Rate Predictions For 2010

Having a crystall ball that told you if the interest rate for mortgages would go up or down would be awesome. Especially in these erratic times. Everyone knows that predictions are not totally reliable, but we can make a pretty educated guess based on the recent economic events. When researching this topic I found geld lenen.

All over the country, lenders are busily promoting super low interest rates. Unfortunately, this is only relevant for people that have credit scores over 700. Besides the high credit prerequisite, you will oftentimes need to make a big down payment to qualify for a below 5 percent interest. Interest rates will be higher if your credit score isn’t as spotless as lenders like it to be.

Mortgage interest has declined consistently the last couple of months. The question is, should you move now, or wait it out? Because of the interest rates consistently going down, you may suffer a big loss when you buy right now. The problem is, if we are in fact at the bottom right now, you lose your opportunity of purchasing property at the best time.

Over the past couple of months, a lot of people sent in their mortgage application. Lenders are flooded with requests and a few have increased their fees in order to keep up with the amount of applications. The general trend for mortgage interest rates is that it’s coming down, but it’s not unrealistic to expect a bounce in interest rate pretty soon.

This bounce is not a bad thing. You just have to wait it out and you’ll see the interest go down again. When the bounce is over, the mortgage market is very close to it’s lowest point. Consider getting a fixed rate mortgage if possible. You will not regret it when mortgage interest rates rise.

About the author

Sherry Fields Sherry Fields has been working in real estate since 2002. Working with the development team for the Hilton Garden Inn gave her strategic information on the commercial real estate market in Missoula. Broadening her scope she moved into the residential market and earned the designation SFR in short sales and foreclosures. Currently affiliated with Prudential Montana Real Estate, she works with both buyers and sellers "building relationships so you can buy & sell with confidence". Sherry Fields has recently earned the CREN designation - Certified Real Estate Negotiator. While price is a large part of negotiation - it is also about timing everything from the closing date to inspections, appraisals, home insurance - and it is about negotiating items that can show up in home inspections to achieve a mutually acceptable outcome.

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