Even a small change in interest rates can go home: a huge savings for homeowners looking to refinance it. Here I go mortgage rates in 2009 for the rest, and for a few months in 2010. Also, I'll tell you why I think the prices change in favor of homeowners sometime in October this year.
Lets Get Right easy to do. I predict that mortgage rates fell in 2009, years earlier than their low of around 4.69%for the typical 30-year fixed rate home loan. Currently, loss rates from 5.19% for the same claim. 5.19% while it is still very low, refinancing and save .5% really adds a lot of money in the long run.
Homeowners have an average interest rate in this country of around 9%. An interest rate of 4.69% is almost half. The savings would be incredible if homeowners could refinance at such a low. I think it will be in October 2009. This is when IPredict that their mortgage rates are lowered to 4.69% the previous low. If a homeowner can wait until then, they should be the benefits of the lowest rates possible.
I predict that mortgage rates will be lower in the October, because this is when lenders and banks, landlords are looking for a new round of applications for refinancing. Right now and for the last few months, mortgage brokers and banks have been floodedwith desperate homeowners looking to save money, or save their home is lost. While this is good for homeowners, it quickly led to a nightmare of paperwork and lenders are expected to help more, will flow. While the increase was only 0.5%, this was enough to deter most homeowners just trying to save money, but homeowners must be at risk of becoming homeless, a chance to save it.
The bottom line is, I believe that mortgage rates are low, isOctober this year. Although not much, but 0.5% savings really adds up to a lot of money in the long term.
