Mortgage Rates (loan, fixed rate, real estate, credit)
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Anyone care to predict what mortgage rates are going to do the next month or so?!
We are moving to NC next week. Our current mortgage company offered us a fixed rate of 5.625% on a 30 year conventional mortgage. Its a relocation rate and it includes 1 point which Dh's employer buys us as part of the relocation package.
Are you a gambler or does that 5.625% sound good to you?
I love watching "deal or no deal". MY strategy would be when I hit a certain price, I'd take it and run. However, I'm always amazed at those that are true gamblers and want to get MORE!
It seems that greed loses ALL the money.
Having said that, MY OPINION is that I'd take that rate, never look back and never question my decision but I realize lots of people just want more!
When I did my re fi, years ago, I told my lender that as soon as he could get me 5.99%, LOCK ME IN! I just wanted to feel that I got less than 6%. And thats what he did. Even though he told me that he THOUGHT the rate could go lower in the next few days, I was thrilled with 5.99%!
Anyone care to predict what mortgage rates are going to do the next month or so?!
We are moving to NC next week. Our current mortgage company offered us a fixed rate of 5.625% on a 30 year conventional mortgage. Its a relocation rate and it includes 1 point which Dh's employer buys us as part of the relocation package.
Would you lock in that rate or wait a bit longer?
Thanks!
We have a 6.1% no points 30 years since the mortgage co is not making us sell our other home that we also have financed through them. I say lock that rate in.
Anyone care to predict what mortgage rates are going to do the next month or so?!
We are moving to NC next week. Our current mortgage company offered us a fixed rate of 5.625% on a 30 year conventional mortgage. Its a relocation rate and it includes 1 point which Dh's employer buys us as part of the relocation package.
Would you lock in that rate or wait a bit longer?
Thanks!
Either lock in now or don't buy now. Both are very viable options, although most reading my posts for a little while would guess at my suggestion.
Anyone care to predict what mortgage rates are going to do the next month or so?!
We are moving to NC next week. Our current mortgage company offered us a fixed rate of 5.625% on a 30 year conventional mortgage. Its a relocation rate and it includes 1 point which Dh's employer buys us as part of the relocation package.
Would you lock in that rate or wait a bit longer?
Thanks!
DH? Not sure what that internet, savy, etc. lingo is, LOL.
So, here's the secret as to where mortgage rates are going . . . nobody knows!!! Look at the roulette wheel . . . black, red, or the green. Same here -- up, down or the same.
Personally, and opinions are just that -- I like that rate. I'd not gamble and lock. I am a very qualified buyer, exceptionally strong credit, income, assets, etc. and I don't know if I could get that rate now. I also buy in an entity name so that may have an added cost.
I have found that if you are a AAA+++ borrower today -- the big boys are still competing for your business. I am doing a re-fi now in FL, 7 digits, and the big lenders are offering everything but the moon, but they are practically offering a trip to the moon, LOL. Good luck.
I agree about not gambling on rates up or down. If you're happy with whats available today, then lock and forget. I have seen people get too focused on getting 1/8th of a point lower than their neighbor and end up loosing a great rate. Depending on your market, 6.25% with one point could be really good.
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