Will fixed home mortgage rates lower again by January 2008?
Geoman asked: We are specifically looking to go from a fixed 6.5 % to a fixed 5.9% or lower.
Rosa
Tags: Fixed Mortgage, Home Mortgage Rates
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on Sunday, April 5th, 2009 at 1:45 am and is filed under Mortgage Loans.
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April 7th, 2009 at 8:39 pm
Glen
Fixed Rate loans are lower then 6.5% right now but not as low as 5.9%. But then aagain, it all depends on your credit and debt to ratio as to what kind of rate you can get.
April 8th, 2009 at 6:52 am
Arthur
yes, wait - they will drop to historic lows in early and mid 2008
April 9th, 2009 at 4:44 pm
Joseph
You can get 5.99% on a 30 year fixed for 0 points today.
Of course, this depends on a few factors you didn’t provide - credit, income, assets, loan-to-value, debt-to-income ratio. No one can predict where rates will be in January, but below 6% is available today!
Included a website for you.
April 12th, 2009 at 3:54 pm
Earl
Makes no sense to refinance if the rate drop is not over 1% because of the costs associated with it, not to mention in todays market your house may not be worth what it was if it was a recent purchase
April 15th, 2009 at 8:05 pm
Roger
After Quicken denies you or tells you that you don’t qualify for rock bottom rates, get some straight talk!
No one knows where rates will be in January 2008. If they did, they would be investing in the bond market and making millions!
As a matter of fact, when the fed cuts short term rates it doesn’t always impact rates on a 30 year mortgage!
6.5% isn’t bad right now and refinancing is expensive. You need to sit down and discuss things with a mortgage professional. There are a lot of factors that will influence your decision!
Some of these factors include:
-Current loan to value (Paying mortgage insurance?)
-Length of time you plan on staying in the home
-Assets