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For those in the mortgage business or real estate

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Bellaocchi
Hope Faith Love

Member since 2/07

5694 total posts

Name:

For those in the mortgage business or real estate

the rates are higher than 2 weeks ago. Will they be comng back down soon? Please shed some light on this subject.
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Posted 6/14/07 3:07 PM
 
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SweetTooth
I'm a tired mommy!

Member since 12/05

20105 total posts

Name:
Lauren

Re: For those in the mortgage business or real estate

there is really no way to predict that.. they go up and down. when you are ready to lock in, just do it. Good luck!

Posted 6/14/07 3:44 PM
 

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: For those in the mortgage business or real estate

there definitely is no way to predict it (if I could id be $$$$!)


but, imo, I think rates will continue to go up for a little while. The 5 yr. and 10 yr. treasuries went up a half % over the past few weeks - mortgage rates usually follow.

BUT - when interest rates go up, prices tend to go down. So definitely lock in when you are ready to buy. dont try to time the market

Posted 6/14/07 3:45 PM
 

Bellaocchi
Hope Faith Love

Member since 2/07

5694 total posts

Name:

Re: For those in the mortgage business or real estate

Posted by Meaghan729

there definitely is no way to predict it (if I could id be $$$$!)


but, imo, I think rates will continue to go up for a little while. The 5 yr. and 10 yr. treasuries went up a half % over the past few weeks - mortgage rates usually follow.

BUT - when interest rates go up, prices tend to go down. So definitely lock in when you are ready to buy. dont try to time the market




Our closing date is on or around Aug 1.. which means sometime in August we'll close.. we have 60 days to lock in a rate. DH feels we shold wait at least until July to go ahead and lock in.... We have the time so we'll lock in at the last minute I guess.

Thanks... I hope they go down again to what we were originally quoted

Message edited 6/14/2007 3:55:47 PM.

Posted 6/14/07 3:53 PM
 

ali120206
2 Boys

Member since 7/06

17790 total posts

Name:

Re: For those in the mortgage business or real estate

Posted by SweetTooth

there is really no way to predict that.. they go up and down. when you are ready to lock in, just do it. Good luck!



Definitely!

We worked with a broker and he told us once we locked in, our rate could possibly go down but, it wouldn't go up. We ended up getting a lower rate than what we locked in at!

Posted 6/14/07 4:03 PM
 

Beth
The Key to your new home....

Member since 2/06

24849 total posts

Name:
Beth

Re: For those in the mortgage business or real estate

don't quote me 100%- but my DH says rates normally drop in August- or they have every year he has been in the business

I would lock if the rate is decent- they have been creeping up all summer

Posted 6/14/07 4:16 PM
 

ckone
LIF Adult

Member since 8/06

3014 total posts

Name:

Re: For those in the mortgage business or real estate

Posted by VRF1125

Posted by Meaghan729

there definitely is no way to predict it (if I could id be $$$$!)


but, imo, I think rates will continue to go up for a little while. The 5 yr. and 10 yr. treasuries went up a half % over the past few weeks - mortgage rates usually follow.

BUT - when interest rates go up, prices tend to go down. So definitely lock in when you are ready to buy. dont try to time the market




Our closing date is on or around Aug 1.. which means sometime in August we'll close.. we have 60 days to lock in a rate. DH feels we shold wait at least until July to go ahead and lock in.... We have the time so we'll lock in at the last minute I guess.

Thanks... I hope they go down again to what we were originally quoted


We waited and we could have had 6.125 and now we have 6.5 and 1/8th of a point to pay.

Posted 6/14/07 4:29 PM
 

Eleanor
LIF Adult

Member since 2/06

2223 total posts

Name:
Ellie

Re: For those in the mortgage business or real estate

you can also look at the bond market. Interest rates usually do the opposite of bond rates - so if the bond market goes up, usually interest will come down the next day.

Posted 6/14/07 11:50 PM
 

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: For those in the mortgage business or real estate

Posted by Eleanor

you can also look at the bond market. Interest rates usually do the opposite of bond rates - so if the bond market goes up, usually interest will come down the next day.



interest rates are opposite of bond PRICES, not rates (when bond rates go up, the price of the bond goes down, and vice versa)

Posted 6/15/07 7:37 AM
 
 

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