Mortgage rates have stabilized, and this stable situation seems likely to persist for a while yet
Foster City, CA (PRWEB) December 12, 2011
Today, HSH.com releases its latest Two-Month Forecast, which predicts that mortgage rates will continue at their recent low levels, with little volatility.
HSH.com predicts that over the next two months, mortgage rates will range from 4.20 to 4.50 percent for conforming 30-year fixed-rate mortgages and from 2.95 to 3.25 percent for 5/1 adjustable-rate mortgages (ARMs).
Keith Gumbinger, vice president of HSH.com, noted that mortgage rates have been near record lows for an extended period already and that major market-moving news is not expected in the near term. This stable mortgage rate environment extends the opportunity for homeowners and homebuyers to lock in extraordinarily low-cost financing.
“The economy is growing mildly, soothing Federal Reserve policies are in place and the fiscal crisis in Europe is getting proper attention. Absent a new shock of some sort, we are in a bit of a holding pattern and should largely remain there,” commented Gumbinger.
“There are plenty of challenges facing the economy and mortgage markets as we turn the calendar, but it seems we have become at least accustomed to them, if not wholly comfortable,” Gumbinger added. “We’ve seen in recent weeks that, as investors become more acclimated to these challenges, mortgage rates have stabilized, and this stable situation seems likely to persist for a while yet.”
HSH.com has been issuing its Two-Month Mortgage Rate Forecast for almost 10 years. Forecasts dating back to 2004 are available on HSH.com. The current Two-Month Forecast for mortgage rates is accompanied by discussion of present and expected market conditions and includes a recap of the previous forecast. The latest forecast can be found at http://www.hsh.com/2month4cast.html.
HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.