How much longer will mortgage rates continue to decline?

I saw today that my local bank’s 30-year fixed mortgage rate is 5.375%. How much longer will they continue to decline, and how low will they go?
I realize that none of you have a crystal ball, but aren’t there companies out there that forcast this type of thing? What are they saying?

By | 2013-08-27T15:19:17+00:00 August 27th, 2013|Mortgages Home Loans Interest Rate|6 Comments

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6 Comments

  1. John R August 27, 2013 at 6:36 PM - Reply

    You can find it information from http://www.instantmortgageusa.com.

  2. IAAW August 27, 2013 at 6:02 PM - Reply

    I am guessing for a long time. Because the economy is not going to get better for a long time and they have to keep the mortgage rates down so that people can afford and are encouraged to buy homes. I also have heard from all the economists that the real estate market is going to continue to go down at least for another two years.

  3. Gen X Agent August 27, 2013 at 5:17 PM - Reply

    Let me get my crystal ball…just kidding. Truthfully, rates are hard to predict because where they are so dependent on many outside factors that are currently very unpredictable. The Fed is trying to fight this recession and adjusting their rates to combat the risk of deflation, inflation and the economic turmoil. Rates for mortgages are often based on treasury bills which are subject to trading.

    As an FYI – watch the economic reports. Positive data will cause rates to go up, negative data will cause rates to go down.

    Are you watching them for a reason? Trying to guess the best time to purchase or refi…

  4. merrylea23 August 27, 2013 at 4:21 PM - Reply

    If I knew the answer to that question I would not be working and would be making lots and lots of money. Look a your crystal ball for answers.

  5. golferwhoworks August 27, 2013 at 4:10 PM - Reply

    it is all market based so there is no way to tell at this point in time

  6. bzimms August 27, 2013 at 3:42 PM - Reply

    It’s just a guessing game…

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