Florida Mortgage Rates (Mortgage Rates Trends)

mortgage rates trends

By Ken Marlborough

Mortgage rates in any market typically vary weekly or even daily. For the month of October 2005, interest rates for a 30-year fixed rate mortgage averaged slightly below six percent, which is comparable to the national average for the same period. Average interest rates for a one-year adjustable rate mortgage were slightly below four percent.

There are several factors that may affect your mortgage rate. In general, the more you borrow and the longer the term, the higher the rate. If you have a good credit history, a monthly income greatly in excess of your expected monthly payment, and are able to make a larger down payment, these factors can all drive the rate on your mortgage down. Rates on adjustable rate mortgages increase or decrease as interest rates increase or decrease, respectively. Your mortgage broker’s points can also affect your rate. Points are basically broker’s fees, with one point being equivalent to one percentage point of the total value of the loan. If a broker is paid more points upfront, in general, you will pay less interest for the life of the loan.

It is a good idea to clarify exactly how brokerage fees are structured. Closing costs are paid by the lender and built into the mortgage in the form of higher interest rates. You should find out what rate reductions may apply if you pay some or all of the closing costs upfront.

Trends in the yield of the 10-year Treasury note are usually a good predictor for rates of 30-year fixed rate mortgages, because most 30-year fixed rate mortgages end up being paid off or refinanced in about 10 years and are therefore somewhat similar to the 10-year note.

Florida Mortgages provides detailed information about Florida mortgages, Florida interest only mortgages, Florida mortgage brokers and more. Florida Mortgages is affiliated with Florida Refinance Mortgage Loans.

mortgage rates trends

2009 - 2010 Mortgage Rates - Predictions, Trends, and Forecasts (mortgage rates trends)

mortgage rates trends

By Michael Petrone

Here are my mortgage rate predictions, trends, and forecasts for the rest of 2009, and a few months into 2010. When a homeowner gets the lowest interest rates they can, they are saving the most money possible. With mortgage refinancing and home loan modification on the rise, a lot of homeowners would benefit from having an idea of what to expect from interest rates. Here are my predictions, and how I made them:

-Right now 5.19% is the average mortgage rate for a typical homeowner and a fixed rate 30 year mortgage.

-Mortgage rates were as low as 4.69% for the same loan earlier in the year.

-I predict that in October of this year, 2009, mortgage rates will drop from 5.19% to their prior lows of 4.69% for a 30 year fixed rate home loan.

Why do I think mortgage rates (mortgage rates trends) will drop to 4.69? I think that the only reason that mortgage interest rates went up .5% to their current rates of 5.19%, is due to mortgage lenders and banks being overwhelmed by the amount of homeowners looking to take advantage of the low interest rates, and the Governments mortgage bailout plan. The combination of these two things quickly drew the interest of millions of homeowners who applied for a mortgage refinancing or modification.

My predictions reflect the fact that I think that around October of this year, 2009, the mortgage lenders and banks will be caught up with the existing home loan modification and refinancing applications. At this point, they will be looking for a new wave of homeowners who need a more affordable mortgage. The interest rates, I predict, will be lowered to their prior lows to spur interest in mortgage refinancing and home loan modification.

If a homeowner can, they should wait a little to see if the mortgage rates lower a little. However, if your home is at risk of being lost to foreclosure or mortgage default, take action now.

At my site I will teach you how to properly refinance or modify a home mortgage saving you thousands of dollars, or even your home. A lot of Greedy Mortgage Lenders will try to suck you dry if you let them. Learn the right way to refinance or modify your home loan at my site: http://www.refinancingcondo.com

mortgage rates trends