Modern CPUs operate at GHz frequencies, but the latencies of memory accesses are still relatively large, in the order of hundreds of cycles. Deeper cache hierarchies with larger cache sizes can mask these latencies for codes with good data locality and reuse, such as structured dense matrix computations. However, cache hierarchies do not necessarily benefit sparse scientific computing codes, which tend to have limited data locality and reuse. We therefore propose a new memory architecture with a Load Miss Predictor (LMP), which includes a data bypass cache and a predictor table, to reduce access latencies by determining whether a load should bypass the main cache hierarchy and issue an early load to main memory. Our architecture uses the L2 (and lower caches) as a victim cache for data removed from our bypass cache. We use cycle-accurate simulations, with SimpleScalar and Wattch to show that our LMP improves the performance of sparse codes, our application domain of interest, on average by 14%, with a 13.6% increase in power. When the LMP is used with dynamic voltage and frequency scaling (DVFS), performance can be improved by 8.7% with system power savings of 7.3% and energy reduction of 17.3% at 1800MHz relative to the base system at 2000MHz. Alternatively our LMP can be used to improve the performance of SPEC benchmarks by an average of 2.9% at the cost of 7.1% increase in average power.