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.
I would recommend locking today. 30 year par rate is 4.875% with most lenders. To get a par rate you have to pay all costs including one point loan origination/discount/broker fee. You can also elect to not pay a point or pay reduce costs but you wont get the par rate.
Getting a mortgage rate is like buying anything else. A better attorney costs more, a better dentist costs more so a better mortgage rate costs more.
Over the last few months, mortgage rates have stayed between 4.875% and 5.375% and their doesnt seem to be any motivation for them to move lower.
I locked in at 5.375% with a 60 day lock with zero points on a FHA loan with a float down option about a week ago. If I had waited for 2 more days I would have got a 5.125, but these markets are real crazy these days. I'm waiting for wall st to pull back a little within a month so that I can float down !!
Wishful thinking !!
Any opinions out there on the affects of Bernanke's speech today on interest rates. I have a feeling its going to cause some movements in the rates. I'm rate protected on my FHA at 5.6, could have locked yesterday at 5.330 but wanted to wait a few more days.
existing home sales report that came out this morning is already pressuring mortgage rates higher. I am recommending to all my clients to lock today.
Yeah I know, its really taken off....
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.
