Will the prime rate for 20 yr fixed mortgage loans fall further?
My parents are considering refinancing. Should they do it now or wait a few months?
Answers:
I doubt it. Everything I've read and see points to the Fed not reducing rates any further in the near adjectives. The dollar is very weak and any further contraction could have very gloomy effects on the economy.
Watch the 10 year T-Bill. This is what most mortgage companies use to determine interest rates. If it drops average mortgage rates should drop.
I believe if you are going to refinance you should probably do it now. It looks similar to the dollar is set to rally with no further cuts from the Fed.
Related Questions:
Is it possible to refinance to a 30 year mortgage near low interest rate beside these score (see detail)?
credit scores Equifax-701, Transunion-710, Experian-720 with elevated debt to income ratio "> I would assume so. I just tried to get a mortgage and be told my score needed to be between 620 and...
Answers:
I doubt it. Everything I've read and see points to the Fed not reducing rates any further in the near adjectives. The dollar is very weak and any further contraction could have very gloomy effects on the economy.
Watch the 10 year T-Bill. This is what most mortgage companies use to determine interest rates. If it drops average mortgage rates should drop.
I believe if you are going to refinance you should probably do it now. It looks similar to the dollar is set to rally with no further cuts from the Fed.
Related Questions:
Is it possible to refinance to a 30 year mortgage near low interest rate beside these score (see detail)?
credit scores Equifax-701, Transunion-710, Experian-720 with elevated debt to income ratio "> I would assume so. I just tried to get a mortgage and be told my score needed to be between 620 and...