Daily Mortgage Rates Becoming Less Volatile

Daily mortgage rate are something that many home owners do not keep up with.  Honestly, it seems that many Americans just take whatever rate that is offered to them that seems acceptable.  Prior to the previous week, average rate were quite volatile involving swings as much as a full percentage point in less than a week.  This makes it very challenging to decide what a decent rate offer is.  Unfortunately, many Americans went to banks and got home loan rates that were much higher than they should have accepted. 

When looking at Wells Fargo mortgage rates, you are likely to see quite unusual movement in the month of June.  There was actually a two week period in which overall rates moved from 4.8% to 5.59% and back down to 5.39%.  This is not good for anyone as the uncertainty pushes people away.  Many Americans are afraid to sink their money in the housing market as it is, so fluctuating mortgage rates makes them even more fearful.

The best way to avoid this fear is to educate yourself on the market.  If you know where rates have been and where they are currently, you will have a much better chance at predicting where they are going to go.  It is hard to imagine that many Americans who buy a home do not even consider making a mortgage rate prediction before going through the home buying process.  Do home owners not realize that they could save over $20,000 during the years that they are making a mortgage payment?  I guess the answer to that question is no.