Over the last few weeks mortgage interest rates have been rather volatile. When looking at the 10 year treasury rate yield it is quite obvious why rates have been so up and down. In early April rates dropped to nearly year lows before gaining some momentum. Since the first few weeks in April we have seen the average 30 year fixed mortgage rate steadily creep up.
One way to make accurate mortgage rate predictions is to follow the 10 year treasury rate yield. The 10 year yield tends to lead mortgage rates but about a full week. When the 10 year yield turns up we are going to see mortgage rates move higher. When the 10 year drops quite a bit 30 year home loan rates are destined to go down. Before refinancing or taking out your first FHA home mortgage it might be a wise choice to check out the long term chart of the 10 year treasury rate yield.
If this seems a bit difficult we can help you out. We are going to make mortgage rate predictions to help you lock in the lowest possible interest rate for your situation. In July 2015 we are likely going to see mortgage rates move sideways to higher. The reason for this is the 10 year treasury rate yield is going to find steady support at both the 50 and 200 day moving averages. These moving averages are now trending upwards for the first time in 2015. While rates may drop briefly we expect to see them bounce back then they hit moving averages.
It is impossible to correctly predict, with 100% accuracy, where 15 and 30 year fixed mortgage rates are going to be in the next two or three months. It is easier to predict where they are going in the short term with the chart of the 10 year treasury rate yield. If you are seeking some of the lowest mortgage rates in Westlake Village, Oxnard, Simi Valley or Thousand Oaks, California call us today at 1-866-260-2253. We will be more than happy to work with you to determine if an FHA, VA, conventional or USDA home mortgage is right for you.