Mortgage rate predictions remain very favorite as many American homeowners are reasoning about the refinance process in October 2010. With the 30 year fixed mortgage interest rate very close to historical lows some homeowners stand to save money by going through the refi process. A large amount of Americans are wondering if rates will be lower in the fall. Unfortunately, it is very hard to make a 100% accurate prediction when it comes to the interest rate markets.
Federal sustain Bank chairman Ben Bernanke has worked very hard to make sure that interest rates stay low but at any time he could take his hand out of the pot which in turn would send loan rates much higher. With that being said, just last week Bernanke and the Federal sustain Bank made the statement that the Fed would work very hard to keep rates near all time lows. As the cheaper recovers, Fed Chairman Bernanke is going to have to take his foot off the pedal when it comes to sinking money into the cheaper to lower mortgage rates. When this happens look for the shop to set interest rates which in turn likely means higher ample rates.
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This is the exact hypothesize it is very difficult to make long term mortgage rate predictions. Fortunately, in the short term it looks as if the 30 year fixed home loan rate is going to remain well below 4.5% which is a very good sign for those who want to save money by going through the refinance process in October of 2010.
Over the last some weeks it has been the case that many Americans are seeing to refinance but not a lot of first time home buyers are jumping into the shop even though loan rates are very close to an all time low. Many of these first time buyers continue to wait for home prices to bottom. Over the last few months it has been the case that some housing markets throughout the United States continue to see declines when it comes to home prices. Many of these first time buyers do not want to catch a falling knife so they are going to continue to wait and see when it comes to home prices.
It is also the case that many of these new buyers are seeing for government tax incentives such as an additional one first time home buyer tax credit. Unfortunately, it does not look as if this will happen in the near hereafter as the expiration was on April 30, 2010 and there have been no bills passed to originate an additional one tax credit.
Mortgage Rate Predictions for Early October 2010 - Will Lower Interest Rates Happen in the Fall? Calculate Mortgage Interest
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