Mortgage Rates Down for 2nd Consecutive Week : The Real Estate Bloggers

Mortgage Rates Down for 2nd Consecutive Week

December 2nd, 2005 • Related • Filed Under

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Mortgage Rates Down for 2nd Consecutive Week, even as the experts are expecting the rates to rise in the  long term. Interest rates for a 30 year fixed rate conventional mortgage fell from 6.28 percent to 6.26 percent this past week, and are down from a high of 6.37 percent 3 weeks ago.

“Mortgage rates are in a holding pattern at the moment as financial markets try to discern where inflation and growth in the economy are headed,” said Frank Nothaft, Freddie Mac’s chief economist.

“Until the market decides these issues, mortgage rates should stay within a relatively narrow band,” he said.

Most analysts believe that the fall in rates will be only temporary as the Fed keeps pushing short-term rates higher to slow the economy enough so that a surge in energy prices this year does not spill over into more widespread inflation problems. via AP

It looks like we are headed to into a stable period as the market determines what the Federal Reserve will do. If inflation is in check we will probably see a lowering of rates, otherwise a moderate increase should be expected. The rate of 6.26 percents is still very low historically.

Related posts:
  1. Mortgage Rates Dip For 4th Consecutive Week
  2. Mortgage Rates Soar from 6.24 to 6.37 Percent For 30 Year Mortgage
  3. For the First Time in 5 Weeks Mortgage Rates Drop
  4. Mortgage Interest Rates Rise on Expected Fed Action
  5. 30 Year Mortgage Hits 2 1/2 Year High



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