Where are the rates headed for 30 year fixes??? (6%, mortgage, mortgages)

[family first]

Trying to time the interest rates for a refi and am wondering what conventional wisdom thinks. I thought I heard yesterday that the Feds were keeping rates low now until next march/april '10. What are people getting right now and are sub 5% no points and fees out there? Who and where?

[Brandon Hoffman]

You would probably get a better response in the mortgage forum. My take is if you're happy with rates currently and want to refi, do it now rather than chance them going up more.

[2bindenver]

They will go up. And they will go down.

[trickymost]

Remember, the Fed does not directly set interest rates. They will go up they will go down independent of what the Fed does. And, they are at the limits of their tools to influence rates. There is no more fuel to suppress rates via QE or other market interventions.

Also, they have plenty of room to rise but not too much room to go lower.

Anything at or below 5% is worth locking down, IMO. You are not likely to see sub 4.5% interest rates.

The newly extended homebuyer's purchase should more than make up for any fluctuations in interest rates below 5% (unless you're buying 500k + home anyway).

If you want a barometer of the direction rates are going to head, follow stock ticker TBT. If TBT is going up, mortgage rate are MOST LIKELY going up. If TBT is going down, mortgage rate are MOST LIKELY going down.

[J Arp]

I wouldn't try to time anything. Grab it while the grabbin' is good.

[Silverfall]

I agree with trickymost. Most lenders don't think we are going to see significantly lower interest rates than right now. Some are predicting we will be around 6% for spring/summer, but that was before the likely tax credit extension.

Every loan will have fees. No ones does them for free.

[mathjak107]

If i could guess the direction of interest rates 2x in a row with any certainty id be richer then warren buffet.

[chet everett]

Originally Posted by mathjak107

If i could guess the direction of interest rates 2x in a row with any certainty id be richer then warren buffet.

I have pretty good certainty that rates are not going to move upward by even 25% by the end of year, nor do I believe that rates will move downward by more than about half that percentage of change.

The further out in the future the wider this range gets...

[mathjak107]

the way the 30 year treasury has been getting beaten up you wonder how long the fed can try to keep the link broken between mortgage back securities and the bond market.

the fed is trying hard to keep mortgages down in light of the upward movement in the 30 year but it may get harder and harder to do

[jp03]

Originally Posted by family first

Trying to time the interest rates for a refi and am wondering what conventional wisdom thinks. I thought I heard yesterday that the Feds were keeping rates low now until next march/april '10. What are people getting right now and are sub 5% no points and fees out there? Who and where?

down....no no wait up...no wait ...they will stay the sa... no no up...down ...maybe up then down...