Mortgage Rates....

[beastboy]

How long do you think they will stay low?

 

[FreeballinDC]

I was wondering who that was in your avatar. Oprah should just spin him off into his own show, she would make even more money then.

If the rates don't go lower, I hope they will stay at this level for awhile, that will give me a chance to refinance the mortgage I have now.

 

[beastboy]

Actually he does have his own show starting.....


So you think they may drop even lower? We are planning on buying our friends house in like a year...1.5-2 years max. and I am really hoping the stay around the same level they are now.

 

[FreeballinDC]

I hope they drop some more, but if the economy is really picking up like some experts say, then the rates will come up too. I don't think they will stay this low for a year and a half. Maybe six months. Truth be known, it's pretty much a guessing game anyway when you lock in to your rate. Just shop around at banks or other financial institutions and see. Also, now that you are looking, keep your eye on the rate now, and track it. If it starts going up, see if you can rearrange your buying plans to buy sooner. My two cents.

 

[beastboy]

^

 

[WODIN]

Follow the long term bond markets, the 15 and 30 year ones. Those are the fundamental drivers of interest rates on mortgages. Because those puppies are the basic market against which investors play money into various markets to maximize profitablity. Also this has a tie in with the 5 and 10 year debt instrument markets. Cd's, bonds, Short Term Loans, etc....

You really shouldn't even start considering what the market is like until your 90 days away from purchasing a house. Shop for your mortgage then.

 

[rnch]

i reif'd with cash out last week at 6.015%.

i've heard my parents talk about rates this low, NEVER thought it would happen in MY lifetime!

 

[FreeballinDC]

Awesome rnch! I will have to refinance my money pit after I move into it.