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Have Mortgage Rates Hit Bottom?

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Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I saw an interesting piece on interest rates this am on Bloomberg. Eveytime the dollar has fallen in value, like it currently is, interest rates have risen. Also today, Canada raised their interest rates for the second time in a matter of weeks.
 

Farm Gal

Thread Starter
Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
So will they atay low or are we heading for a late 70's inflation/interest spike or what sayeth everyones crystal ball?

Mine's foggy :!: :lol:
 

rcaldwell

Freshman Member
Joined
Jul 10, 2002
If the equity market continues to contract, expect they could get lower. The dollar argument is somewhat flawed in that the dollar really hasn't weakened vs. our major trading partners. It has against the Euro, but that isn't as significant as Mexico, Canada and Southeast Asia. The other thing to watch is if the 10 year treasury gets into the 4.5% range, you will get a big rally in treasuries as owners of mortgage securities will buy treasuries as a hedge against mortgage refinancing. Long winded but I expect rates get cheaper before they go up.

Ryan
 
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