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Old 06-09-2009, 12:30 PM
 
133 posts, read 534,402 times
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What is going on locally with rates? Any local loan officers or real estate agents care to weigh in? Rates look like theyre jumping around alot.
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Old 06-09-2009, 02:58 PM
 
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Well I don't know what the future holds but my real estate agent tells me now is the time to buy - just like every time I have ever looked at a house. Seriously though, if anyone knew where the rates were going they could make quite a bit off of that knowledge and would not share it here

Your best bet is to deal with a bank that you trust and offers a free rate lock with little mark up to their fees.
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Old 06-09-2009, 04:56 PM
 
133 posts, read 534,402 times
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I am not buying again, I am just curious as to what the speculation is....is the economy recovering? Or is this really because the Chinese dont want to buy our treasury bonds when theyre low? Or is this the effect of there having been so many refinances in the last few months and now these loans are being delivered to the investors and sold on the secondary market. This has caused a glut or oversupply of mortgages in the market, causing the yield to decrease and the rates to increase, no ? Will rates go really low again or is this a new trend? Will we see rates of 8 and 10 percent again one day, or worse ?
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Old 06-09-2009, 07:48 PM
 
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I know better than to say I know where rates will go but I definitely don't like the Bernanke Fed (effectively) printing $1.2 Trillion to buy GSE debt and other treasuries. The Chinese don't like it either so they are selling long debt and only buying short maturities. Some say that's why the Fed's strategy is backfiring - thus long rates are headed up soon unless the Fed doubles their ante. If the Fed pledges to buy another trillion of debt off the market we might even see 4.5% mortgages again but it wouldn't last long, IMHO.
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Old 06-10-2009, 07:42 PM
 
262 posts, read 781,410 times
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Perhaps the finance section of this forum would be a better place to discuss this as this is not a Huntsville or even a 'Southern' topic. You will get a broader audience there. For even more input you would like the finance section of fatwallet forumns
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