Answers (12)
- Clay Branch, "Georgia Loans"
- Contributions:8829
Whew, that was close. OK, Rate predictions, $5. I take visa, MC, AE, and Discover. I can process CC, doesnt that make me legit? ( like the loan mod guy says )
- Clay Branch, "Georgia Loans"
- Contributions:8829
Sherri, yes! I said it, next week will be crazy. I 'm not sure if I should tell you my source for that info but WTH, I have been reading about Nostradamus and his predictions. He has a good track record, right?
- Sherri Sherpy, "MN Mortgage Mom"
- Contributions:477
Yep! They are coming this week. Clay told me so! Didn't you, Clay? :)
In all seriousness, madavev, just be prepared. Re-read Clay's advice below. He is dead on. Good luck to you!
In all seriousness, madavev, just be prepared. Re-read Clay's advice below. He is dead on. Good luck to you!
- madavev
- Contributions:2
Yes my prophecy is coming true! 30 Year fixed is going to drop to 4.5!!!
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Mad, if conforming, it's here! ... Go get it! ... Best wishes ... Rudi
- ddong2lee
- Contributions:2
honestly, its anyone's guess where the rate will be tomorrow, next week, next month, etc. just pick what rate will work for you and call around every day or have them call you when your target rate has hit. that's what happened to me today. my target rate was 5.000 and i got it today. if you can wait until the rates drop below 5 again then wait. if you dont want to risk it and still get a good rate hovering around 5 then do it soon cause the rates are still good.
- KJ Parikh, "kjparikh"
- Contributions:2
nop! it is not a bubble. In current economical and financial situation normally rate moves up which means, the lending institution don't have enough, access and easy money to put in a credit cycle by means of mortgage.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3801
Mark...how are those fake reviews coming along. I assume you will have a few more in the coming weeks.
- Clay Branch, "Georgia Loans"
- Contributions:8829
BTW, I just quoted a 30 Yr loan at 4.625% so the avg rates you are looking at on Bankrate are not accurate. Look at the real time rates here on Zillow being quoted right now.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3801
Depending on your exact circumstances, you can still get a no point rate close to the 4.875% than 5.59%. Post a request on here and you will see what is currently out there.
- Clay Branch, "Georgia Loans"
- Contributions:8829
madavev, are you positioned to take advantage of a rate drop tomorrow, if it happened? I doubt it. Sitting and watching is not enough when rates move and this is why. Lets say there was a move tomorrow morning and rates came out low, You find out about it at 11:30 AM. You call a lender or broker, and finally get someone on the phone, it's now 12:40. You give your information to that person who then has to pull your credit report and do a prequal sheet, but they are very busy locking existing files so you get a call back at 1:50. They quote you the same rate you already have because at 11:45 the market started selling off and rates changed at 12:10, then another rate worsening at 1:20 because they are still selling off. That is how it often goes when you try to time the market. If you are going to hold out until a specific rate comes along, you have to pick a lender now and give them all the information they need to act without waiting on you. You also have to know if you pass on what the rates are now, and it never goes to what you want, you will have passed on near all time historic rates.
- Mark R. Chaffee, "markchaffee"
- Contributions:42
Rates ticked up nationally due to inflation fears and investors capacity issues. My advice is to lock in at these low rates (low 5s with 0 points) and not try and 'time the market'.
30 Yr fixed loan went up again. Is this a temporary bubble? are they gonna come down to 4.85 again?
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