 OT: Mortgage Interest Rates, What's gonna happen over next 2-3 weeks |
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| Qarl |
 Mar 10 2004, 09:14 PM
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Shriveled member  Group: Benefactors Posts: 5,233 Joined: 8-February 03 From: Florida Member No.: 271 Region Association: None   |
Does anyone have any insight on where home mortgage rates are headed over the next 2-3 weeks?
We're getting to the point where we can lock in our rate on our new home. The market took a dump today. The February jobs report announced last week was worse than expected causing the interest rates to drop a bit this week Are we at the bottom, is it going to stay about the same... go down more or go up? Does anyone have any insight or know of some internet forums with some industry expert opinions. Thanks! Qarl |
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| MarkV |
Mar 10 2004, 09:45 PM
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Fear the Jack Stands Group: Members Posts: 1,493 Joined: 15-January 03 From: Sunny Tucson, AZ Member No.: 154 Region Association: None |
The rate is lower than I have ever seen it. I got a quote for a client yesterday on a 30 yr of 5.25% with no points & no origination. When the stock market takes a hit & the job numbers are bad the rate will go down. Rates have fallen for the last week until today. They went up just a little (1/32) today.
I watch the yield for the long bond at this site: http://www.lioninc.com/market_snapshot You want to see the yield on the long bond come down. It was at 4.67 today, last week it was at 4.90. It is hard to predict what is going to happen in the short run. I usually lock when I should'nt have, & float when I should have locked. My only advise would be don't get caught in a situation where you are close to a closing date with rates increasing and no lock. Who ever thought we would see 5.25% mortgage money? |
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Posts in this topic
Qarl OT: Mortgage Interest Rates Mar 10 2004, 09:14 PM
anthony Nobody can tell you what rates will do unless they... Mar 10 2004, 09:40 PM anthony I'm going to refi soon with a 4.6% loan (15 ye... Mar 10 2004, 09:55 PM TROJANMAN actually, the mortgage rates are more closely tied... Mar 10 2004, 09:56 PM MarkV Trojan would know better than me, I just list & se... Mar 10 2004, 10:10 PM Rob Ways Aimloan.com has been great. You can look up their ... Mar 10 2004, 10:35 PM p914 5.25 is a great rate. I got a new house this past... Mar 10 2004, 11:30 PM TROJANMAN in the next week? i think rates will rise an 1/8 ... Mar 11 2004, 01:34 AM GWN7 I remember signing a morgage for 17% and was glad ... Mar 11 2004, 02:06 AM Qarl I already have the construction loan set up.
Co... Mar 11 2004, 08:01 AM joea9146 Timing the market is a tough thing to do. I say if... Mar 11 2004, 08:06 AM
rhodyguy greg, i will be calling you this am. wells fargo (... Mar 11 2004, 08:40 AM |
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