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mortgage rates.. up or down?
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LIgrlatheart
LIF Adolescent
Member since 7/06 638 total posts
Name:
christi
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mortgage rates.. up or down?
ive been hearing various things on this... are the rates going to be going up in the next month or down..
so confused! our stupid broker told us to wait b/c they were going down and now they have gone up from what he org. promised us... so im thinking do we wait another week or two to lock in or take it now...
uggg i hate buying a house!
(ok i lie i love it but this broker jsut aggrevates me)
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Posted 7/17/07 3:11 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: mortgage rates.. up or down?
you could lock in now and pay a float fee so you have some room if the rates do go down.
In my experience, you can't time this. Lock into a rate you can afford and let it be.
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| Posted 7/17/07 3:33 PM |
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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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Re: mortgage rates.. up or down?
Posted by Blu-ize
you could lock in now and pay a float fee so you have some room if the rates do go down.
In my experience, you can't time this. Lock into a rate you can afford and let it be.
I agree. I wish that I locked in and just paid the entension but I took the gamble and it really does make a difference when you are talking 100's of 1000's of dollars.
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| Posted 7/17/07 3:41 PM |
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pnm1654
Mommy to 2 boys!
Member since 5/05 4565 total posts
Name:
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Re: mortgage rates.. up or down?
The rates now are making me  We just sold a house where we were paying 6.25%. Now we're looking to buy and I'm being quoted 6.75-6.85%
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| Posted 7/17/07 3:59 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: mortgage rates.. up or down?
the broker has no way of knowing if the rates are going up or down
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| Posted 7/17/07 4:27 PM |
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meghanmetz
LIF Adolescent
Member since 5/05 525 total posts
Name:
Meghan
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Re: mortgage rates.. up or down?
Posted by Beth1210
the broker has no way of knowing if the rates are going up or down
Agree no one does, anything he/she tells you is speculative (perhaps educated speculation, but speculation nonetheless).
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| Posted 7/17/07 5:41 PM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: mortgage rates.. up or down?
No one can really say that rates will go up or down over that period of time. There are indicators brokers look at, but that will give them a short-term view.
It's maddening to know when to lock, but you just need to do it when the rate seems right.
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| Posted 7/17/07 5:56 PM |
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