Record-low mortgage rates won't last forever, but summer 2010 may produce the lowest of the low, with rates holding at 50-plus-year bottoms.
Pompton Plains, NJ (PRWEB) July 26, 2010
HSH.com released today its latest Two-Month Forecast for mortgage rates. Homeowners and potential home buyers should take note.
"Record-low mortgage rates won't last forever," noted Keith Gumbinger, HSH.com's vice president, "but summer 2010 may produce the lowest of the low, with rates holding at 50-plus-year bottoms."
A poor economic climate and troubles in eurozone economies are serving to keep rates low, but Gumbinger warned, "All crises--with its beneficial and detrimental effects on mortgage rates and the housing market--will come to an end at some point." Gumbinger said the only question was how quickly that change is coming.
Low mortgage rates are providing important supports for the housing market and creating new refinancing opportunities for millions of borrowers.
The latest Two-Month Forecast can be found at HSH.com. The mortgage rate forecast is accompanied by both a recap of the previous period and a discussion about the influences on mortgage rates in the coming months.
Two-Month Forecasts have been issued by HSH for almost ten years, and previous editions dating back to 2004 can also be found at the site.
HSH.com has also released a mid-year update to its 2010 Outlook for mortgage rates.
"With half a year yet to go, we wanted to provide readers with fresh review of the ten most important factors affecting the housing and mortgage markets," said Gumbinger.
HSH has tracked the nation's mortgage market for home buyers, homeowners and industry participants since 1979, and its website, HSH.com, is among the Internet's leading portals for financial information and expertise. HSH's deep and broad surveys of rates and terms for first mortgages, home equity loans, home equity lines of credit and other consumer loans have been conducted on a weekly basis for as long as 30 years, and the company has long been an authoritative source for current loan pricing information.
For further information, please contact:
Keith T. Gumbinger, Vice President
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