Please use Subprime Blogger to stay up to date with current mortgage rates.? There are also interest rate predictions to help you get a lower overall mortgage rate.

Freddie Mac’s weekly mortgage survey showed that average mortgage rates for the 30 year fixed rate mortgage this week were 5.38%; this is actually less than my mortgage rate predictions, but I was quite confident that rates were going to fall as the 10 year treasury note has taken a tumble since reaching 4%.? Today we are actually seeing a 4% daily bounce in the 10 year so we will see if that picks up any steam.? Current mortgage rates are likely to remain volatile as the treasury yields have been extremely unpredictable lately.? The best thing for the current housng market would be for mortgage rates to stablize, but it does not look as if that is going to happen.

The 30 year fixed rate mortgage has taken quite a wild ride in the last month.? This is not good at all for the sentiment of the market.? Mortgage rates are hard enough to figure out as it is.? Home buyers want to see stablized, lower rates so they know what they are jumping into.? That has definitely not been the case as average mortgage rates have moved as much as .75% in ONE day over the last few weeks.? Hopefully this is not discouraging home buyers, but be rest assured that it is making people think twice.

Another major factor with current mortgage rates flucuating so much is that refinancing is harder to do.? If home owners were considering refinancing and they see that average mortgage rates have been all over the map, some of them feel it is not worth the time, effort and closing costs to go through with the process.? This is going to hurt the economy even more as it will be less money in the pockets of home owners who are considered prime borrowers.