Your Questions About Mortgage Rates Today

George asks…

need advice on today’s mortgage rates?

what would be a good rate today in getting a mortgage? purchase price$220.000. investment property. 20% down payment . 30 years. $170000 mortgage loan . thank you for your response. location is in SANTA MARIA,CA,93458

admin answers:

I’m a long term real estate investor, you should remain on the sidelines for many years. Buying investment property in CA, is like playing hike stakes poker. Rates should not be a factor for an investor.

Chris asks…

With the news coming out on operation twist should I refinance today or are mortgage rates going to go lower?

admin answers:

It is unlike that mortgage rates will go lower. Mortgage rates will start going up very soon.

You should get your mortgage refinanced as soon as possible.

Ruth asks…

Given that the FED cut .5% off interest rate, why are average mortgage rates higher TODAY than LAST WEEK?

admin answers:

The cut it to the Prime Rate, so this only effects rates for 2nd mortgages, credit cards, and such.

Donald asks…

mortgage rates?

ok today my bankes mortgage rates went up from 6.85 to 7 with no points. I cant lock until july 10th because our house wont be ready to close until aug 10. should i lock as soon as i can or do you think rates will drop off towards the end of july begining of aug.

admin answers:

I would suggest either way also, but try looking at some sites that will provide rate sheets and maybe that will give you a bit of an insight.

Susan asks…

Would you advise locking in a mortgage interest rate today or floating it? Where do you think rates are headed

admin answers:

It depends on what you are looking for in an interest rate, but if you think they are going to drop in the coming few months then you will not be successful.

I would lock the rate and advise any client I had to do the same.

I hope this has been of some use to you, good luck.

“FIGHT ON”

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