When will rates go back down? - Economics - Page 2 - City-Data Forum

Obrero · 01-31-2009, 02:55 PM

Perhaps the Treasury will move forward with this and rates will be fixed at 4.5%.

Treasury mulls plan to lower mortgage rates - Dec. 3, 2008

f_m · 01-31-2009, 03:16 PM

Trying to figure out how useful this would be. At the moment most applications are for refi (~70%+). The number of people who can be approved for loans are lower than in the past, so even a lower rate will only allow a smaller number of people to purchase.

Waterboy526 · 02-02-2009, 09:35 AM

Quote:

Originally Posted by TimtheGuy

If you don't mind my asking, who is the lender?

Sorry I didn't respond earlier. The lender is Wells Fargo. I believe their rates as of today stand at 5.5%, so I would be paying about 6.0% if I were to do the same loan modification today.