Picking the Horses

Trying to determine the direction of mortgage interest rates is a lot like picking a horse to bet on. Interest rates in the last few months have dropped to new lows. Who would have thought that we would be seeing interest rates drop to their lowest level in almost 4 years. In my reading of the last few days, as many pundits are forecasting increases in mortgage rates in the near future as are predicting rate decreases. Given the volatility of the financial markets worldwide, I believe that anyone in the market for a home or refinancing their current home, need to be aware of the volatility and NOT assume further reduction in mortgage interest rates.