Is it true that Mortgage rates go up usually in summer and come down during the end of the year?

Hi,
I am a planning to get a home in Bay Area. Is it true that Mortgage Rates usually go up in summer and eventually calm down during the end of the year?

Thanks

By | 2013-08-24T07:19:08+00:00 August 24th, 2013|Mortgages Home Loans Interest Rate|4 Comments

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4 Comments

  1. MVD34 August 24, 2013 at 8:58 AM - Reply

    Sounds like hogwash to me…I suppose in theory the demand for housing may be heavier in spring and summer in some areas…and someone is trying to say that housing demand influences mortgage rate in some way…but I doubt it’s true…certainly not everywhere and at all times.

    Mortgage rates fluctuate according to the bond market — supply and demand of money and credit. Predicting the Bond Market is almost as impossible as predicting the Stock Market. Professionally, baring unforeseen circumstances (a HUGE qualification, BTW) , I would hazard to guess that tomorrows market will look a lot like to days market. Beyond that, only a fool would make a prediction backed by serious money…

  2. Alterfemego August 24, 2013 at 8:55 AM - Reply

    Rates have nothing to do with the seasons

  3. scott August 24, 2013 at 8:18 AM - Reply

    Rates are not based on the seasons. They are usually based on a ratio to prime. An prime is not going up for a while.

  4. David Z August 24, 2013 at 7:51 AM - Reply

    I do not think there is any seasonality in mortgage rates. rates are flying higher these days. You need to hope for the stock market to tank again so investors flock to US treasuries and drive rates down again.

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