What Does History Tell Us About Mortgage Rates? [mortgage-answer.blogspot.com]
US mortgage rates for past 52 weeks at a glance. Published July 19, 2012. Associated Press. Average U.S. rates on fixed mortgages fell again this week to the lowest levels on record. Here's a look at rates for fixed and adjustable mortgages over the ... US mortgage rates for past 52 weeks at a glance
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mortgage-answer.blogspot.com Mortgage Crisis in America 2012 - US Mortgage Rates
In most financial markets history does, in fact, repeat itself. In most industrialized stock markets history has repeated itself several times. Bull and bear markets seem to coincide with specific events that relate closely to past events. The problem with comparing the mortgage industry is that there are no hard facts about the distant past. The survey data-rate mortgage has been collected since 1971 and the housing industry has changed dramatically over the past 80 years.
When looking at historical mortgage rates, it is obvious that the long-term trend is down. During the last major recession of the early 1980s mortgage rates peaked at 17.5%. Since then, rates have declined steadily to their current levels of today, about 4.8%. There have been upticks along the way, but the overall trend is down. At one point, there will be a bottom mortgage rates leading to a steady increase. It is highly unlikely that rates will never get close to 17.5% ag ain, but if history repeats itself, they will have to rise well above historic lows today.If we know history may repeat itself, it might be the best time in many of our lives to buy a home or refinance. Although many Americans are suffering financially, it's an opportunity that can not be transmitted. It is tempting to try to predict the exact bottom mortgage rates, but when you look at the bigger picture of history mortgage rate, now is the best time to buy.
Recommend What Does History Tell Us About Mortgage Rates? TopicsQuestion by Walton: Home Mortgage Rates and US Credit Rating? A few questions for those with a good finance background... 1. First - more of a personal question since I'm in the market for a new home. For someone with little debt, average earnings, and credit score in high 700s - whats a typical rate these days on a new home purchase, assuming 10% down and 30 year structure ? 2. What, if any, effect will the downgraded US credit rating have on consumers/their own personal lines of credit, i.e. mortgage loans ? Thanks! Best answer for Home Mortgage Rates and US Credit Rating?:
Answer by GVD
You can currently get a 30 year fixed mortgage as you described in the low 4's. There is much talk about the us credit downgrade, mostly from people who don't understand how US 30 year fixed rate mortgages are priced. While this may have a big effect on adjustable rate mortgages, equity lines of credit and credit card interest rates, it will most likely have little impact on 15 and 30 year rates as they are priced based on mortgage backed securities. Mortgage rates are more susceptible to economic activity, for this reason, jobs reports, Consumer Price Index, Gross Domestic Product, Home Sales, Consumer Confidence, and other data on the economic calendar can move mortgage rates significantly.
