The continuous decrease in current mortgage rates has made some potential home buyers think about the timing of a mortgage loan. Should they avail of a loan right now or should they wait for lower mortgage rates? A lot of people predict that the mortgage rates will continue to stay low but for how long?

Some real estate brokers and experts in the home mortgage industry wonder why borrowers never ask about the possibility of rising mortgage rates. The current mortgage rates are truly very beneficial to borrowers but one should not discount the fact the mortgage rates could still go up. Some speculators predict that the mortgage rates will continue to go down because of the dull economy while some predict that it will go up once the economy starts to recover.

Some veterans in the mortgage business are very surprised at how low are the mortgage rates today. In the year 1980s, the mortgage rates range between 13-20 %. The prime lending rate during this year also stands close to 20%; a far cry from the current mortgage rates which stands at 3.25%.

Some borrowers who will read information about the mortgage industry during the 80's will think that the mortgage rates are absurdly high. A fixed rate mortgage loan with a term of 30 years has interest rates ranging between 4.25% and 4.50%. What's more interesting is that these rates represent those that are being charged to borrowers in the year 1964.

Today, borrowers believe that mortgage rates will continue to stay low. But they should be wary that the mortgage rates are directly affected by the treasury market. A borrower should not be surprised if the mortgage rates suddenly go up. Historical data reveal that rates can go up faster than it can go down.

Some individuals are willing to take the risk. Even if they can close a mortgage loan with a rate of 4.00%, they still anticipate that it can go as low as 3.75%. The small difference in the mortgage rate matters because it can give a borrower huge savings in his monthly amortization.

Anticipating the behavior of mortgage rates can be very risky. If those borrowers do not want to take the risk, then they should work closely with a lender who they can work comfortably with. The mortgage rates are already at its historic low so getting a mortgage today is a wise choice.