How to Track Mortgage Interest Rates?

Do you know what has the most uncertainty? Mortgage Interest Rates.

While none of us can predict what mortgage rates will be in the future, there are a few factors used by experts, to estimate what mortgage rates will be at a given time.

Fortunately for us regular consumers, we do not have to spend an exorbitant amount of time or money tracking mortgage interest rates. Below are a few ways you can keep a close eye on mortgage interest rates, to better plan for your financial future.

#1: Pay close attention to US Treasury Bonds

10-year treasury bond yields are often used as a benchmark for financial instruments such as mortgages. When there are changes to the 10-year bond yield, whether positive or negative, you should expect mortgage rates to trend in the same direction.

I particularly love Freddie Mac's mortgage rate trend data, as it gives a robust overview of historical and current mortgage interest rates.

#2: Become obsessed with the news

Oftentimes, news broadcasts share information as to how the stock market is performing. Although experts do not consider the stock market to be the best reflection of mortgage rate performance, one can glean considerable insight as to how mortgage rates may trend in the future. For example, if the stock market is outperforming, you wouldn't be wrong to believe mortgage interest rates would be high and vice versa. Pay attention to the stock markets via RobinHood or even the Fidelity app.

#3: Watch mortgage interest rate trends

If you notice significant trending changes in mortgage interest rates, such as rates slowly increasing or decreasing, you may want to seek out experts to figure out their long-term predictions on mortgage interest rates, so you can be sure to lock in the best rate!

I hope you enjoyed this brief read! Do you have any additional tips on how to track mortgage interest rates? If so, drop a comment below!