Nowadays the mortgage interest rates are very low compared to previous years when it was around 6 to 7 percent. Predicting mortgage rates when you need to get a mortgage or apply to get refinancing is not that simple and easy to accomplish. While mortgage rates at the moment are predictably low, you can never tell when it is going to go up or go down.
The present mortgage rate is around the 5.20percent range in some areas or states and provinces in Canada, you can still find fixed rate at 4.7 percent. Now there are some indications that the prices of some commodities and energy is rising so the inflationary forces are there now. And when inflation goes up so are the interest rates that the Central banks or the Federal Reserve charge for banks when they borrow money. Continue reading ‘Predicting Mortgage Rates and Refinancing’ »