What Mortgage Rates Will Do Over The Next 30 Days (July 23, 2009 Edition)

If we study the long-term mortgage rate pattern dating back to late-2008, we observe that mortgage rates have bounced within in a tight range for nearly 8 months, only breaking the upper and lower boundaries for brief moments in time. Conforming mortgage rates appear to be "stuck" near 5.250 percent with 0 points.