Mortgage rates have been volatile lately as the 10 year treasury rate yield has been as high as 2.5% and as low as 2.1% in the last month. This is a very large range when it comes to interest rates. The 10 year treasury rate yield and the 30 year fixed mortgage are strongly correlated which means tracking the 10 year yield will help us make August 2015 California mortgage rates predictions.
With the 10 year treasury rate yield finding support at its 50 day moving average we feel as if this will hold and overall mortgage rates will move sideways to higher. That does not mean you cannot benefit from refinancing or taking out your first home loan today. In fact, when looking at historical mortgage rates it is quite obvious interest rates are still very close to an all time low. For this reason, it might be a good idea to consider locking in a low mortgage interest rate today rather than waiting until rates move higher in August or September of 2015.
Borrowers may also want to consider adjustable rate mortgage options as ARMs tend to offer a lower interest rate than conventional fixed mortgage rates. To get current mortgage rates click on the link. We will be more than happy to explain the difference in the mortgage programs and products. We will also do our best to get you into the lowest monthly mortgage payment for your current financial situation.
As we get closer to August 2015 we will be able to make much more accurate mortgage rate predictions. For the time being, please feel free to reach out to us with any questions you may have. If you plan on moving into a new house in August or September of 2015 now is the time to get started with the finance process. We will do our best to streamline it for you.