The Mortgage Rate Roller Coaster : Take A Dizzying Ride Through 2010

Welcome to my blog. I’m glad you’re here. Get notified by email when I write something new on The Mortgage Reports. Click here for free email alerts or subscribe to the RSS feed in your browser.

Loan officers like to talk about the Mortgage Rate Roller Coaster; a metaphorical reference to how mortgage rates change over time. Watch this video and you’ll ride that roller coaster first-hand.

Mortgage Rates : Hills, Dips, and 2-G Corkscrews

The roller coaster you’re about to ride is true-to-life. It plots the average 30-year fixed rate mortgage from January 1, 2010 to December 31, 2010, as reported by Freddie Mac.  It rises, it falls, it spins you in circles.

You won’t get lost, either. Running commentary highlights key mortgage markets events including:

• The Fed’s initial withdrawal from the mortgage market
• Eurozone default fears and Eyjafjallajökull, the Icelandic volcano
• Housing and Employment sector fake-outs
• Fed focus shift from inflation deflation
• The Fed’s re-entering into the mortgage market
• The unwinding of The Refi Boom

The ride is a bumpy one so make sure you’re watching in Full-Screen Mode. Unless you’re experiencing back trouble or have a heart condition.

Rates At 5% But Headed Toward 6%

Mortgage rates ended 2010 with a steep ascent but we have to keep the figures in perspective. Rates were higher then the year started versus when it ended. And, historically, we remain well below the average.

That’s why mortgage rates should rise in 2011. Momentum is drawing rates up, and the market is moving towards its mean. The Refi Boom is over and higher costs are coming.

If you’re looking at mortgage rates and need to lock one in, . Include some bullet points on your current loan and I’ll get you active pricing right away. You can also use the “Live Rate Quotes” form at the top of the page.

I answer all my mail and look forward to helping you.