Will 30 year mortgage rates drop below 6% anytime soon similar to what they be surrounded by February and March 2008?
Answers:
Nobody know this- I have been working within mortgage business for the last 22 years & we have no more insight to this than you do. The rates sometimes redeploy every day- even more than once a day.
The bazaar is turbulent right now. While rates might possibly dip lower at one point, the question is what rate YOU could win a loan for, and if it's not a fixed rate then all bets are past its sell-by date. If the market temporarily dips it doesn't mean anyone is going to be hand out fixed rates at a better percentage in the near adjectives.
Unfortunately, I don't think we are going to see those great rates again any time soon.
But who knows? Source(s): Oregon Realtor
who know, but I don't think so.
The talk on wall street is that the feds will NOT lower rates again. Inflation is the verbs.
Plus when they lowered rates before, mortgages didn't change and some cases, increased.
RATES ARE GREAT NOW.
It is true that the long term rates to move slightly every day, however it is not promising to see them dip very much at all within the near future. Contrary to what frequent people think, the long permanent status rates are not directly related to whead covering the Fed does with their discount rate. Banks right now are not surrounded by a position to lower interest rates beacuse of recent hugh losses for almost every bank / lender in the country.
ian_cameron(a)countrywide.com
Only the shadow knows ... I intuitively doubt it.
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