How to Track Mortgage Rates

mortgage rates trends

By 02SmithA

Mortgage rates are moving much more quickly than normal right now because of the economic instability. Here is a guide of how to track the latest graphs and trends of mortgage rates.

Instructions

Step 1
The government has taken unprecedented moves in the last few days to attempt to shore up the financial system in the United States. Whether this plan works or not is yet to be seen, but it certainly is making mortgage rates move in a big way.

Step 2
Bankrate is the best place to keep track of everything mortgage rate related. The site has a terrific graph of the trend for a national average of the 30 year fixed mortgage, which I have included in the resources. Be sure to check this often and see which way the fixed mortgages are moving now. Find low rate mortgages in one click of a mouse.

Step 3
Want to customize the mortgage rates down to your area? That is very easy to track as well by simply putting in your zip code and selecting the type of mortgage rate you wish to be given. This is very useful in comparing mortgage rates among local lenders.

Step 4
Calculate it! Calculate it! Finally, if you want to break it down even farther, bankrate has a terrific mortgage rate calculator on their site which will show you the specific of monthly payments on a perspective mortgage in your area. Take advantage of these very useful tools in a time where rates move very quickly!


Tips & Warnings

* Keep up to date with this information often.
* Search around for the cheapest mortgage rates
* Don't settle for a rate too quickly, shop around!

Resources

* http://www.bankrate.com/brm/mortgage-calculator.asp
* http://www.bankrate.com/brm/graphs/graph_trend.asp


mortgage rates trends

How to Make Mortgage Rate Predictions

mortgage rates trends

By Katie Duzan

Mortgage rate speculation by economists is inevitable. A raise indicates a rising economy, easy lending and more mortgages. A fall occurs in tough times, with lending freezes and there are fewer mortgages. There are a few key indicators that economists use to gauge the mortgage rate's future. Using these tools, it is much easier to accurately predict the future of the mortgage rate. This article discusses those key indicators, and how to make mortgage rate predictions from them.

1. Look to the past. Historical data is a good indicator of what will happen with mortgage rates. Similar situations lead to similar outcomes. Also, recent history reveals the current trend. Further future predictions require more research into past scenarios and their outcomes. Don't jump to conclusions without researching causes. If a market drop occurred in the past, make sure it was the market and not an outside issue, such as financer problems or bad decisions by mortgage companies.

2. Note the current climate. The economic climate dictates whether rates will rise or fall. If the economy is on the upswing, lenders are lending money and mortgages are easy to get. In these times, expect to see the rate rise. However, if money is tight and mortgages are hard to come by, rates will drop.

3. Watch for changes. Key financial players resigning, announcements regarding rates, or planned rate changes have an effect on the market, and in turn on mortgage rates. Major players to watch are the lenders, since they are responsible for financing people into homes. If they begin having problems, there is a good chance the market will droop.

4. Be cautious. Mortgage rates don't jump or drop rapidly. The change in mortgage rate is minute. Don't expect a change of more than a percent of a percent. Keep in mind that the rate will likely never fall to zero or rise above 10 percent, even in the craziest market conditions.


mortgage rates trends