Your Questions About Mortgage Rates

John asks…

If the Fed initiates more intervention at their November meeting, how much will mortgage rates drop?

Closing on a home at the end of October. Should I delay the closing and make it for after the November Federal Reserve meeting, as they may announce their intentions to make purchases, which could lower mortgage rates. How much of a reduction would occur in the mortgage rates, if the Fed does this? Thanks for your help, as my mortgage guy didn’t have the answer.

admin answers:

If you look at the history of mortgage rates you will see that a drop in rates from one month to the next in excess of 1/8% is very rare, but when rates go up it is not unusual for them to increase in larger increments. The Fed influences rates, but it does not control them and there are other factors that can more than offset what The Fed is trying to do.

Rates may not change at all or they could even go up. There may also be repercussions for delaying your closing. To delay your closing in hopes of a 1/8% rate drop is not worth the risk.

Chris asks…

What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be?

What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be sure to provide specific examples.

admin answers:

Not up to us to do your homework, dude.

Mandy asks…

With the federal government buying bonds will mortgage rates go lower?

With the federal government buying bonds will mortgage rates go lower? Wondering if I should consider refi now or wait?

admin answers:

Since they started QE2, mortgage rates have gone up slightly. The whole scenario is shaky. If there is even a whiff of inflation then rates could really rise. On the other hand, if things calm down you might gain the 1/4 % back. I would lock in if it were me. Get a set rate that is locked for 30 days. If rates trail down then push out the closing and lock in at the new rate.

William asks…

Do you think the mortgage rates will get better this year?

I come out of a fixed deal in August 2008. What are my chances of the mortgage rates being a bit better by then?
I live in the UK.

admin answers:

Mortgage rates in the US seem to be near their historic lows. If you had a couple years it might make sense to let rates ride. It probably is a good time now to look at your financing options, so you can get something before your rate resets.

Mary asks…

what have the mortgage rates fallen to this week?

I know the mortgage rates fell this week, but what did they fall to? How long will this last? I am currently looking for a home, so it would be good info. to know. Thanks.

admin answers:

30yr fixed with 5% down…720+ credit scores fell down to 6%….now they are trending around 6.125% and 6.25%

FHA mortgages with 2.25% down…..are like 6.75%, and could be going up.

Remember that a rate can be low but how many points you’re paying is ANOTHER STORY. You can have a low rate, but is it worth paying an extra point or 2?

Http://freddiemac.com/ is the only legitimate website that shows you what the actual rates borrowers are ACTUALLY receiving.

Do not be fooled by advertisements.

Powered by Yahoo! Answers

Leave a Reply