2010 Mortgage Rate Predictions and Trends

Mortgage interest rates are the key to saving money on a home loan refinancing. The good news is that right now, mortgage rates are very low, enabling many people to benefit from a mortgage refinance. However, I predict that by the end of 2010, mortgage rates will have risen and that could take away the benefits for some, and it will make everyone pay more, when refinancing a mortgage.

Its actually good news that I predict mortgage rates will rise in 2010. Rising interest rats generally mean a market is growing, or recovering in this case. However, for the individual homeowner looking to refinance, any interest rate increase takes away some of the benefits of refinancing. For some people, after all the closing costs and other fees are paid off, a refinance may not even be a good thing to do because of the predict increase in interest rates in 2010. (more…)