Economic Conversation

Fixed home loan rates are sure to increase soon as the 10 year treasury rate yield continues to work its way higher.  The uptrend for the 10 year treasury rate yield began back in January and it looks as if that is going to continue.  There have been several instances in which the yield moved down to the lower trendline but it continues to get a bounce whenever this happens.  This means that we are likely going to see fixed home loan rates increasing in the near future.

Armed with this knowledge, now is the time to refinance or buy that new home you have been thinking about.  If you wait for several months, you could be working with a mortgage lender who is offering you a mortgage rate over 6%.  This could hundreds of dollars a month difference in your mortgage payments.  There are many resources available online to help you get a low mortgage rate so please take advantage of them.

I am sure you have seen many options for refinancing an getting mortgage rates for under 5% so make sure and look into these as it may be the last chance you get.  In my opinion, we will see mortgage rates above 6% before the end of the summer.  You do not want to miss out on the chance to get a mortgage rate around 5.25%.