When will home mortgage rates step down. Since the feed have dropped it's rates.?
Since the fed has dropped rates so much, I maintain checking to see Home mortage rates. If they drop enough i will refi. I already have a biddable fixed rate but, I would like to save money if i could by getting a better rate on the mortgage on my house.
Answers:
There are several factors in determining mortgage interest. Your credit gain is one. We have been at 5.875% for a few years. And when thinking around refinancing, keep in mind the charges and fees you own to pay.
These mortgage companies are greedy. The Fed funds rate is like 3.5% and they're still offering financing at 5.something %.
Only refi if you own enough equity to cover the refi costs and you can get a lower rate.
yes--now is the time to be shopping around we checked at wall 3 months ago and it was 5.4
Actually - fed rates are not tied to mortgage rates. Mortgage rates are tied to a little things include foreclosures and the mortgage company's ability to get the money to supply mortgages. Right now, with the credit crunch, money is more expensive so the rates will stay lofty.
Hang in there, they will drop again sometime - in actual fact, the rates are still pretty good - I remember when they were 8-12%
Right presently is as best of a time as any to do the refinance.. the feds could suddenly raise rates again.. you never know what could happen. If you see a low rate right very soon.. go for it. Best Wishes. ;-)
Related Questions:
Has anybody gone thru a home loan from dune of america the one nickname " no allowance mortgage plus"?
it seems too good to be true it say you dont play closing costs and alot of good things and I want to know if somebody out there know more about it to see if...
Answers:
There are several factors in determining mortgage interest. Your credit gain is one. We have been at 5.875% for a few years. And when thinking around refinancing, keep in mind the charges and fees you own to pay.
These mortgage companies are greedy. The Fed funds rate is like 3.5% and they're still offering financing at 5.something %.
Only refi if you own enough equity to cover the refi costs and you can get a lower rate.
yes--now is the time to be shopping around we checked at wall 3 months ago and it was 5.4
Actually - fed rates are not tied to mortgage rates. Mortgage rates are tied to a little things include foreclosures and the mortgage company's ability to get the money to supply mortgages. Right now, with the credit crunch, money is more expensive so the rates will stay lofty.
Hang in there, they will drop again sometime - in actual fact, the rates are still pretty good - I remember when they were 8-12%
Right presently is as best of a time as any to do the refinance.. the feds could suddenly raise rates again.. you never know what could happen. If you see a low rate right very soon.. go for it. Best Wishes. ;-)
Related Questions:
Has anybody gone thru a home loan from dune of america the one nickname " no allowance mortgage plus"?
it seems too good to be true it say you dont play closing costs and alot of good things and I want to know if somebody out there know more about it to see if...