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Trying to decide on timing for a refinance before the new year. What are the chances we will see cheap money this fall. I'm trying to time when I should apply for loan. What reasons do you have for making your case?
Trying to decide on timing for a refinance before the new year. What are the chances we will see cheap money this fall. I'm trying to time when I should apply for loan. What reasons do you have for making your case?
Make the market crash. Lets wait for Q3 earnings.... also real investors will come to market after labor day....
IMO its highly unlikely. Interest rates should be higher than they are now, the government is just trying to keep them artificially low. I'd go for anything under 5.5 if you can get it, and that is historically a very good rate. Lock it in while you can.
IMO its highly unlikely. Interest rates should be higher than they are now, the government is just trying to keep them artificially low. I'd go for anything under 5.5 if you can get it, and that is historically a very good rate. Lock it in while you can.
I agree. The govt purchased probably 750 billion dollars worth of mortgage securities to drive down the interest rates.
If there were no govt. interevention, you would be looking at rates in the mid 6's.
The million dollar question; Watch the Chinese. If they don't keep on buying long term US securities, we've got big issues.
People who tried to "time the market" with the refinance and didn't jump on it hoping to get in the low 4's are in a shock. Anything in the low 5's for a 30 year fix is a no brainer, especially if the rate is 1 point lower than your current rate and if you are planning on staying for more than 2-3 years.
Trying to decide on timing for a refinance before the new year. What are the chances we will see cheap money this fall. I'm trying to time when I should apply for loan. What reasons do you have for making your case?
Rates are there right now (4.875-5.0 range...lower for a 15 yr.). Why would you wait?
Dont wait for lower rates. Rates are fantastic right now. Several lenders offering 4.75% today.
Can you say that for FHA loans out of NY with 0 points origination and buyer paying closing cost with a 45 day lock ? (there are so many things on top of the teaser rates )
If not then what would the rate be with the above conditions ? I also heard it varies from state to state.... is that true ?
Fha today with no origination would be 5% to 5.125%. I would suggest that you pay one origination and get around 4.75%. Sorry, i am speaking of Texas as i only do loans in this state.
By paying a point or points, you buy a lower interest rate. I write a blog where i always quote the par interest rate for a conventional mortgage. You can check it out on this site.
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Rates are excellent now!
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