I am buying a topical home. What is the 30 yr fixed rate mortgage forecast for the subsequent month (May-June)?
Answers:
lock now
I'm a Loan Officer and knowing how treacherous our market is, you'll find so many different answers. Don't believe anyone especially those acting as psychic. This has be a extremely erractic market for the past few months beside interest rates increasing and decreasing randomly. For the most part they are lower than ordinary due to the past several rate cuts by the Fed. Even with the Fed cuts, sometimes the interest rates still increased so near is no guarantee. The correct advice would be if you're interested in purchasing a home while the rates are low to lock within a good rate for 45 or 60 days. This will give you time to find a home and if the rates increase you still own your rate. If they decrease then you can drop your lock and pick up the decrease rate.
"Email me at jdawson(a)gracefunding.org maybe I can help!" Source(s): Current Realtor/Loan Officer
I picked up a 5.75% rate. (new mortgage)
Home prices are expected to drop by as much as 10% next month.
Rates are good right very soon but probably won't get much better. My realtors tell me that buzz has picked up a lot, so don't look for prices to turn too much lower, if at all. Thats here in Maryland, though. The flea market on the east coast is doing a lot better than the desert out west.
If anyone know that for sure, they wouldn't be hanging around here, they would be on their G4 somewhere. It's about 6% today. Next month it will be more, smaller quantity or the same. Of course, there is no such item as A 30 year fixed mortgage rate. it depends on your financial circumstances and the type and value of the property you might be purchasing.
I got 6% fixed 2 months ago near a credit score of 670.
I believe 5?
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