Chase mortgage rates could prove to be very interesting over the remainder of the summer; are they going up or down?
Chase mortgage rates have been stable over the last few weeks, but that may change greatly in the month of July. It seems that any time the overall market feels they have a grip on where interest rates are headed, we get thrown a curve ball. The fact that rates have moved sideways over the last few weeks makes me believe that we are going to see a drastic change in the month of July.
To compound matters, the 10 year treasury rate sits at a strong support level near its 50 day moving average. If this support holds, average mortgage rates are sure to move higher. As they move higher, Chase will have no other option that to continue to increase their rates to reflect that of the overall market. Unfortunately, this is not going to help a lot of current home owners. Those home owners who were hoping to refinance their home might be out of luck if they wait too long.
The other bad situation that could arise from this daily mortgage news is that those who were hoping to sell their homes are going to have to decrease their price. It is a known fact that when interest rates rise, the prices of homes fall. If buyers are going to have to pay more in interest they are going to want to pay much less for the actual home. This will be the case if we do see overall rates creep their way towards 6%. Do not be surprised if this happens before the summer is over.
