Interest rates home expected to head north in 2010
19th December, 2009 - Posted by admin - 4 Comments
The low real estate prices and interest rates home in US have enabled the US housing market to recover but all doesn't seem well as the mortgage rates are expected to head north soon. In the year 2010, the US interest rates are expected to rise across the board.
As per Robert Shiller of Yale University, there will be strategic default on mortgages over the next year and will emerge as a serious problem to be dealt with. The 30 year mortgage rates have hit the lowest since 1971 and are currently hovering around 5.09%. As per experts, the downward tend is not expected to last beyond the first half of this year and it would be good if you could get refinancing at a fixed rate.
With the recovering of the economy, Federal Reserve is expected to raise its rates and even adjustable rate mortgages will follow the trend but all this is expected to happen in the second half of the year. The problem will exaggerate further as the Federal Reserve is considering new rules for the banks, which might result in money being pulled out of the economy and lending guidelines getting stern.
Posted on: December 19, 2009
Filed under: information about, mortgage news
4 Comments
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January 13th, 2011 at 4:30 pm
As per Robert Shiller of Yale University, there will be strategic default on mortgages over the next year
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