ewushi asked:


I understand that some law prohibits mortgage lenders from giving ARM to people over certain age. I am 54 years old and I am struggling with this rate now. Someone told me I could use this fact to persuade my lenders to reduce my interest rate, or to move me to a fixed rate. Is this true?

Howard

JustMe asked:


We are thinking about buying an investment property - a duplex - that I am going to live in for the next 3 1/2 years or so. My father is the one actually purchasing the duplex (I dont have enough money or risk tolerance to buy it) and I was wondering what kind of rate he should expect to get if I live there. Will it be about the same as a home mortgage or higher (if so how much higher?)?

Dan

mama bear27 asked:


I have an adj mortg rate, that’s set to renew in september, and with mortg rates being low right now, could it go lower than it is now? Right now it’s high, and that’s what my mortgage started with…not a low int rate.
one has a ARM(Libor index), and the other is a fixed rate.

Mike

Dwayne asked:


I’m going to refinance my house and I heard from friends that this coming week the mortgage rate will drop a bit.
When I called a broker last week, she said that the lowest mortgage rate was 6.5. But I believe this week will be lower.

My question is does anybody know a good website, free and without signing up, that shows current day to day mortgage rate.
I live in Portland, Oregon.
In your opinion, how would the mortgage rate would be this coming month and beyond.

Thanks

Carlos

eternal_enthusiast asked:


Hi,
I am buying a new home and am shopping for mortgages.
I recently locked in an mortgage rate with a broker and have been contacted by a few other brokers offering me much better rates ever since.
When I locked in the rate with my first mortgage broker, he didn’t charge me any fee. Can I now pick a new mortgage broker without incurring any problem? Am I obligated to anything? My broker didn’t charge me any anything, didn’t mention any fee and I haven’t signed anything.

Thanks for your help.

Glenda

CaseBasket asked:


I live in MA but want to find the best mortgage rate on a 30 year fixed mortgage, We have ability to put 25-30% down, maybe more. Rates were showing at 5.3% last week. They went up.
Can I use an out of state lender to finance in MA?

Suzanne

ohioan_femme asked:


Today, Federal Reserve slashes benchmark interest rate to between 0.25 and zero percent. What the heck does that mean? And how come no matter how many times the Fed slash the rate, it barely affects the 15-year and 30-year mortgage interest rates? Does it have something to do with the housing demand? Isn’t the housing industry in the pits now? How come the rates are not going down? Can anyone explain this to me in layman’s language?

Thank you.

Lydia

ssk402000 asked:


When I bought my house it was worth 291,000 where I made a down payment of 20,000 and now I am having an appraisal getting done and with the housing market as it is, i’m sure its worth much less. I originally had a 5 year ARM mortgage at a 5% rate but am now looking to refinance to a longer fixed rate mortgage. What are my options?

Kevin

dasielady asked:


I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, and a 5-year Balloon for 17% of the value, and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender.

I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %.

If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down?

What are your thoughts?

Thanks!

Eleanor

Robert B asked:


Right now I have a fixed-rate mortgage at 6.25% but the job situation is bad and both my wife and I cannot afford to pay the mortgage and our debt. Is it possible to negotiate with our current lender to lower the interest rate to what the government has out now? (lower than 5% I think). How does that process work? I don’t want to refinance, I just want to negotiate for lower interest rate.

Samuel