Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
hello,
i've got a refinancing loan that needs to close by Aug. 3rd or my appraisal will expire.
i need to lock by the end of july and close by aug 3rd OR i will have to do a new appraisal.
how do you think rates for a 30 year fixed with excellent credit will be in the next 2 weeks or so?
There remains a good deal uncertainty in the market. That uncertainty has, as recently as a few weeks ago seen rates roller coastering. Nothing has changed all that much to make things more stable. If you have a good relationship with your broker / loan officer they MIGHT be able to give a very short notice that "today is the most likely day to lock X.X% rate", but even then they could be wrong by a half percent, and with rates as low as they are that is about as close you can get...
They have been going down a little in the past week or so but they inched back up some today. Don't be greedy and try to get the rock bottom lowest rate. If you can get a good rate now that is saving you money, take it and close the deal.
8%+ by May 2010. Don't worry, prices will continue to correct down to account for the financing cost and people's inability to afford home prices at 4x+ their yearly income....if you purchase a home as a utility you'll be alright, if you're trying to game it as a passive investment vehicle, you might be hosed. Good luck.
Rates are not predictable, period. PERIOD. Don't take anyone's advice. You are literally rolling the dice. It's not that big a deal. Lock the rate and stop second guessing yourself.
I will gladly wager that hindsight2020 is way way way off.
In fact, should anyone care to REALLY wager what rates will be I suggest that you go to the "Event Prediction" market site, InTrade. I will caution that currently the VOLATILITY is such that NO ONE is making any bets:
Prediction Markets - Intrade The Worlds Leading Platform (http://www.intrade.net/market/listing/showEvent.faces?e=32205 - broken link)
are you a gambler or do you prefer the sure thing?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
