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Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
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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.
TIA
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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
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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!
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| Posted 6/14/07 3:44 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: For those in the mortgage business or real estate
there definitely is no way to predict it (if I could id be $$$$!)
but, imo, I think rates will continue to go up for a little while. The 5 yr. and 10 yr. treasuries went up a half % over the past few weeks - mortgage rates usually follow.
BUT - when interest rates go up, prices tend to go down. So definitely lock in when you are ready to buy. dont try to time the market
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| Posted 6/14/07 3:45 PM |
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Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
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Re: For those in the mortgage business or real estate
Posted by Meaghan729
there definitely is no way to predict it (if I could id be $$$$!)
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.
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| Posted 6/14/07 3:53 PM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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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!
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| Posted 6/14/07 4:03 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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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
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| Posted 6/14/07 4:16 PM |
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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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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.
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| Posted 6/14/07 4:29 PM |
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Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
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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.
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| Posted 6/14/07 11:50 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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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)
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| Posted 6/15/07 7:37 AM |
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