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mzteris Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-19-08 03:18 PM
Original message
mortgage rates
Any guess as to how low they'll go and a timetable to go with that?

I guess the question really is - Refinance now or wait a bit and see if it drops more . . .
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A HERETIC I AM Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-21-08 06:02 PM
Response to Original message
1. The trend for the moment seems to be down.
The website of First Trust Portfolios puts out a report every Monday afternoon that has the average 30-year mortgage rate, among many other index performance numbers.

http://www.ftportfolios.com/Retail/Commentary/CommentaryArchiveList.aspx?CommentaryTypeCode=WMW&CommentaryCategoryCode=MARKET_COMMENTARY

If you bookmark that page, you can check their reports at your leisure.

I'm not a mortgage broker but it seems to me that with the large inventory of unsold and foreclosed homes, rates are likely to trend down for at least 2 more quarters as this inventory begins to flatten.
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-22-08 01:59 AM
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2. Depends on your credit rating
If it's below 700, mortgage rates are going up, up, up.
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