Your Questions About Mortgage Rates Trends

Lizzie asks…

HELP | Do mortgage rates usually higher in January because its start of new year?

I need to know what is the good time to refinance at the end of the year or in the begging I looked at the history trends cant tell not enough detail. Thank you!!!

admin answers:

Rates typically do go up right around the end of the year and the very beginning.
You should have checked in to this way back in October/November when rates were at the lowest they’ve ever been. For example: I locked in 30 year fixed USDA mortgage at 3.75% in November for client buying a new home in Florida. Today that same client would be looking at 4.5%

Helen asks…

should i lock in my variable rate 2nd mortgage now to a fixed rate, or wait for interest rates to fall more?

I have been paying only interest on an ING Orange mortgage for months, on 56,000. loan, and i can convert it to a fixed rate 15 year loan anytime i choose. my payments would be about $450.00 mo if I do it now. any smart suggestions on waiting for lower interest rate in few months or doing it now? (I’ve googled trends and frankly it is confusing)

admin answers:

I honestly don’t see interest rates getting any lower.
Eventually they will start shooting up.
If you can get a 5% FIXED loan rate, I would do it now.

I read in Money Magazine that interest rates just on 1 year cd’s could easily double by December.
Keep this in mind – and don’t wait too long.
Remember, you will be paying penalties for paying off your old mortgage early.
It’s not about what your monthly payment will be, its about what is right for your financial future.
If you are extending the length of your mortgage by too much – it could be a bad move.
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Sharon asks…

HELP | Do mortgage rates usually higher in?

HELP | Do mortgage rates usually higher in January because its start of new year?
I need to know what is the good time to refinance at the end of the year or in the begging I looked at the history trends cant tell not enough detail. Thank you!!!
10 minutes ago – 4 days left to answer.

admin answers:

Now is the time to refinance. The rates have already started to rise. Do it now!

Linda asks…

Historical Mortgage Rates?

I’m looking for a website that has a day by day listing of the average mortgage rate for that day. I fully understand that mortgage rates vary considerably based on a lot of factors including points and other things, but I’m more interested in overall trends.

I am interested in 30-year fixed rate mortgages only.

If someone can post a reply with a link to a day by day listing of the rates on each day, from a website OTHER than mortgage-x.com (I don’t like the site), you’ll get a best answer. Thanks!

admin answers:

Http://www.hsh.com/today.html
http://www.mortgage101.com/Articles/DailyRateSurvey.asp
Couple of sites to try

Charles asks…

Where can I find a graph giving me trends in real estate for Texas?

Specifically, I need to look for a graph that tells me the trends in real estate for Texas for 30 year mortgage rate, property tax rate, unemployment rate. It doesn’t matter if it’s a 1 year trend, 5 year, 10 year whatever…

admin answers:

Here are some websites for you to peruse:

http://www.trulia.com/city/TX/

http://forecast-chart.com/real-estate-texas.html

http://www.househunt.com/realestate-markettrends/TX/Schertz/

http://www.window.state.tx.us/finances/

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