Charting 30-Year Mortgage Rates
This chart is a neat visual explanation of what’s kept the real estate market chugging along. These rates understate what you’d pay in New York City for a jumbo mortgage by probably a quarter point or so, but you get the idea. What do the chartists in the group make of this pattern? Monday Market…
This chart is a neat visual explanation of what’s kept the real estate market chugging along. These rates understate what you’d pay in New York City for a jumbo mortgage by probably a quarter point or so, but you get the idea. What do the chartists in the group make of this pattern?
Monday Market Commentary [MSNBC via Behind the Mortgage]
“Has to stay low” doesn’t mean it will. These folks have their own agenda.
Still and all, even if it was 7%, that’s pretty damn low in comparison to rates of the 1970s and 1980s. I’ll take 7% over 18% anyday.
being as how the american economy pretty much consists only of the buying and selling of houses and the crap to go inside houses (aka “homes”), the morgy rate pretty much has to stay low. or there’s nothing left.
the rate stalled out twice just under 6.5%.
that would be considered a breakout point should rate penatrate that level on a run back up.
from a technical standpoint you need to be looking at several moving averages to further analyze support and resistence levels.
But they could. I never count anything out.
The fed has a very hard time controlling long-term rates. Even after all the short term hikes, long term rates haven’t moved.
I don’t think it’s going to stay there forever – the feds just keep raising rates. By next year, it will probably be over 6%.
It looks like it is converging at 5.75% and will stay there forever