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The Future of Mortgage Rates: Where do you think rates will go?

I am working on some research to do my next post regarding the "Mortgage Rate Bubble" and would like as much input as possible. I am running a poll on Florida Mortgage Report to see how many and what percentage of real estate professionals think rates will continue to increase and where will mortgage rates be at the end of 2009.

Unfortunately, I could not get this poll scripted properly for adding to AR, so please send everyone you know over to http://www.flmortgagereport.com and select their answer.

Posted by Florida's #1 Mortgage Planner on 06/10/2009 11:11 AM

Comments (10)

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10 Comments on The Future of Mortgage Rates: Where do you think rates will go?

JUN

Thanks...I just cast my vote in your poll...very informative website too!

Main dependent here is the US investment in MBS - it is another situation where the government has gotten in but doesn't have a plan out.

Robert,

With the weak dollar and the raising treasurie rates. We are toast for a while. By summer it will be exactly like last year around 6.5%.

I will vote on the poll as well.

Brian Bustamante

Fort Lauderdale Homes for Sale

Much can be learned by looking at history. Check out Freddie Mac charts of mortgage rates back to the early 1970's which will suggest there is no way forward but UP!

JUN

Short-term back down temporarily. Think 5% or under. There's talk of the government subsidizing lower rates. With real estate being such an integral part of our economy, and the economy still staggering, artificial supports may be necessary. Long-term look for rates in the high 6's-low 7's by mid-2010. We shall see. Thanks for the post!

JUN

It's difficult to predict what will happen because the Fed keeps changing the rules of the game. I think we will bounce around in the 5's for the foreseeable future, but rates will have to move up at some point. I don't think will see rates over 6.5% until the overall economy is in considerably better shape.

JUN

I'll go check it out and vote on your outside blog. I believe rates must go back up, given the poor position of the USD relative to other currencies, and given the amount of money that's being printed out of thin air. I was a real estate developer during the Carter years, and we're headed that way again.

Mike in Tucson

JUL

No one knows the future direction of interest rates.

JUL

I think we are all optimistic that we are moving in the right direction, unfortunately none of have the crystal ball, but we do have history as others have mentioned to look at to see where we were to where we can expect to go.

Thanks to all of you whom have participated in the poll. I am going to keep in going for a while and will formulate a post from the results.

Now as for those whom don't think we can forecast where mortgage rates are headed, I disagree considerably as there are ways to read the charts and be able to predict the future with a high degree of accuracy. Granted, in the current environment, predicting the end of the year is very difficult at best as our government keeps throwing curveballs into the situation, but when it comes to floating or locking loans for clients, you don't really need to look out past 30-60days and that can be done with a high degree of accuracy still.

Thank you all again.

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