I have been riding this for a while trying to decide when to lock it in and gut keeps telling me it'll make 4 before its over. That being said its the same greedy gut that usually makes me leave the craps table disappointed after a good run. I know I shouldn't listen to it and make hay while the sun shines, but who knows. This economy is so up messed up. My thought that the banks will lossen the purse strings a little but at a higher rate than we are seeing, thus my theory that we are seeing it as low as its going.
A local bank I was dealing with put a floor on it at 5 once it got down to 4.5 after a week. My thought is we may see more local lenders do this as I would prefer to deal local.
Mortgage interest Rates.....up or down?
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Re: Mortgage interest Rates.....up or down?
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"Better to have people think your a fool than to open your mouth and remove all doubt"- Mark Twain
Re: Mortgage interest Rates.....up or down?
....just saw my appraisal....anyone want to buy a house in Oxford? I now have one for sale 
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Re: Mortgage interest Rates.....up or down?
If you got one that went up in value better hold on to it, thats like a golden egg.
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"Better to have people think your a fool than to open your mouth and remove all doubt"- Mark Twain
"Better to have people think your a fool than to open your mouth and remove all doubt"- Mark Twain
Re: Mortgage interest Rates.....up or down?
Our new Tax evaiding Treasury Treasure just said they are going to introduce a plan to lower interst rates. I see 4% coming soon..
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Re: Mortgage interest Rates.....up or down?
cwink wrote:Our new Tax evaiding Treasury Treasure just said they are going to introduce a plan to lower interst rates. I see 4% coming soon..
If anybody does see 4% post it up on the main board, i already have mine at 5.35 but would refinance it for under 4.5 in a heart beat.
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Faithful Retrievers
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Re: Mortgage interest Rates.....up or down?
I also hear that there is going to be a $15,000 dollar tax credit for new home purchases. That was 10% with of purchase with a max at $15,000.
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"Better to have people think your a fool than to open your mouth and remove all doubt"- Mark Twain
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duckduckgoose
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Re: Mortgage interest Rates.....up or down?
just wait a little longer, they will come back down. trust me its going to get a lot worse. i am now starting to see home values really start to fall.
Re: Mortgage interest Rates.....up or down?
Rates are dropping some more and will more than likely continue when the MBS market comes around. But always remember that a bird in the hand is better than two in the bush...run you a payment and see if it really matters to hold out b/w 4.875 to 4.75. It may not make much of a difference in your monthly payment. PM me for rate quotes.
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