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    April 21, 2009
    Mortgage Rates Unlikely to Move Lower in the Near Term

    This week is not expected to hold any news that is likely to make a big splash in the markets. As a result, mortgage rates are expected to remain relatively stable in the near term. Lenderama points this out about mortgage rates:

    The bottom line for this week is that mortgage rates will likely remain fairly steady as MBS pricing tries to set up a solid pattern, though seeing mortgage rates edge slightly higher may be seen as well.  As I have said before, I do not expect mortgage rates to be heading any lower, at least for the foreseeable future and without something major happening.

    It appears as though mortgage rates may have reached a temporary bottom, and that they are unlikely to go much lower. Additionally, as the economy improves, mortgage rates are expected to go up overall. So the window is closing on the best rates.

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