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

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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.

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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, just ask.

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About the Author

Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator click to get a free, no-obligation rate quote.

You can also find Dan on Twitter and Google+.