Mortgage interest rates-can they go lower? (refinancing, credit, loan)

[ZnGuy]

I'm considering refinancing my mortgage and over the last few weeks 30yr fixed rates range from 4.75-5.25%. Do you think they can go lower and what scenario would drive rate lower?

[brokensky]

Well, let me see . . . according to my crystal ball, he who waits on lower rates is foolish seeing as how the rates have never been this low in half a century. Who cares if they go down another 1/4 pt? I mean . . . really.

But if you wanna wait . . . you have a 50/50 chance . . . so you gotta ask yourself: How lucky do I feel?

For me, these rates are amazing. Never expected to see them this low in my lifetime.

[mullman]

Personally (and Historically) I think 4.75 on a 30 year fixed is awesome.
Take it now, or gamble on the future - that is life.

I still remember the rates during Carter.

[brokensky]

Originally Posted by mullman

Personally (and Historically) I think 4.75 on a 30 year fixed is awesome.
Take it now, or gamble on the future - that is life.

I still remember the rates during Carter.

Not only you. I had to relocate (job) and back then, we had to buy a home w/in 18 months of selling one or pay capital gains on the profit of the sale. I think people have forgotten how that was!

Anyway, I remember locking in the loan at 13.50% and feeling so much relief, b/c the rate went up 1/4 point only a few weeks after I had locked in.

And for those too young to know about that disastrous economic period - I had perfect credit and that was the best rate going at the time.