Mortgage Lending Library
Apply online or request a free mortgage quote by phone.
Call our loan center now, toll free 1(866)747- 0627
Mortgage Rate Trends
Mortgage rate trends refer to the fact that mortgage rates increase, decrease, or stay steady at various times. Financial professionals and those interested in getting a new home loan or mortgage refinancing all watch mortgage trends carefully. Lenders want to know about mortgage rate trends so they can offer good-quality advice to their clients and can adjust their marketing accordingly. Borrowers interested in debt consolidation, mortgage refinancing, or a new home loan want to be able to lock in interest rates at the exact right time. Most lenders will allow you to lock in a mortgage rate right away when you start negotiating. However, deciding when to lock in is difficult. Many borrowers research mortgage rate trends carefully and try to predict when rates will be at their lowest. It's frustrating to lock in a rate only to find a week later that rates have dropped even lower. However, even financial professionals have a hard time predicting what mortgage rates will be like in a week or two. There is a whole industry dedicated to tracking mortgage rate trends. Borrowers interested in a new home loan or mortgage refinancing can spend some time looking through newspapers and magazines that offer professional advice about mortgage rate trends. Borrowers can also ask their lenders about current mortgage rate trends. However, borrowers should not be surprised if they get no clear answers and no exact information. Mortgage rate trends are simply difficult to predict. Plus, no lender wants to be responsible for telling a client rates are at their lowest, only to find mortgage rates drop a few points after a client has signed up for new home loan. Ultimately, you will be responsible for your home loan yourself. Therefore, while it's a good idea to keep an eye on mortgage rate trends, eventually you will have to make decisions without knowing what mortgage rates will do the next week for the next month or the next year. Ultimately, the best thing to do is simply to find a mortgage rate you can live with and lock it in before it goes up. You can always get mortgage refinancing later on if rates really do take a dive.