Earlier this week I predicted mortgage rates would continue to head lower but not drasically lower.? My Monday Mortgage Rate Predictions were as follows:

Unfortunately, the government is not letting free markets work themselves out but this is not different than any other part of the business world today.? Now that the Fed is accelerating the amount of money they are dumping into MBS?s it is hard to predict a rise in mortgage rates in the near future.? This week?s mortgage rate predictions:

30 Year Fixed Rate Mortgage – 4.76%

Freddie Mac’s weekly mortgage rate survey reported 4.78%.? Once again I was within .02% of being exactly correct but that could change at any time in the weeks ahead.? With mortgage rates at historic lows in terms of modern history, now is the time to refinance or buy your first home.? It is likely that the Federal Reserve Bank will continue to push mortgage rates lower, but it is quite risky to take the chance of the housing market bottoming and mortgage rates sling shooting right back up.

Make sure to check back in next Monday as I will release my weekly mortgage rate predictions.? On Thursdays I will do my best to post a follow up reflecting the accuracy of my predictions.

Guest Writers?.

For the first seven months of this blog I have opened up the forum to a few readers who had the desire to post their feelings through articles.? After realizing how much passion some of the readers have for the current economic crisis and the mortgage industry, I am going to allow YOU, the reader, to send me articles to post.? The only requirement I demand is that you have PASSION for what you write and it must involve the housing industry.? I would actually prefer you to be strongly opinionated as that is the point of this blog.? If you are interested in writing every once in awhile or every single day please email me at jwojdylo@subprimeblogger.com.? I look forward to posting your articles and getting engaged with the reader.