Can't buy a house til 3 more months...will the rates stay the same or will it rise dramatically?

  • January 14 2013 - West Hills
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (16)

Rates fluctuate like the sea tides and without as much warning! If you want to buy, try to get your loan taken care of and your rated "locked" while they are low.
  • February 10
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for zuser20150202121900584
[promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • February 06
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hello Janet,

I am excited to announce that Coldwell Banker Preferred Mortgage is offering an interest rate "cap" for our buyer clients that will garantee your mortgage rate will remain below the cap - which is 1/4 percent above the current rate at the time you choose to cap it. Of course if rates fall, you get the lower rate.

Give me a call. I'd love to work with you to get your rate capped!
  • February 13 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for howardft
The answer to that question is like predicting the stock market in three months from now; it's all speculative. I would ask a lender to give you a chart of historical rate trends. Yes, rates have gone up a little the past month, but who knows where they will end up. Based on historical trends, fixed 30-year interest rates are near 30-year lows and yes, prices will rise within the next few years. 
  • February 13 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Dear Janet,
Rates are extremely volatile right now, but we do not expect to see a dramatic increase within the next couple of months.  The Fed has announced that they do plan to keep rates lower through 2013.  However, you will see them start to make conservative increases. 

The main thing to watch is an increase in property values and purchase prices.  With very little inventory, the multiple bid situation is driving home values back up.

What happens at the 3 month mark that would mark your availability to buy a home?
  • February 12 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for LorreDeppe
In our area (Wisconsin Dells) they are already slowly rising. I wouldn't think 3 months would make a huge difference, but you should expect a slight increase.
  • February 11 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Dear Janet,
The analysts believe interest rates may dip a bit more, however, home prices are beginning to rise and the market is changing to a seller's market.
This means higher home prices and less seller concessions to the buyers. Spring and Summer should be very busy.
  • February 11 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Blue in d Nile


full sized image:
http://photos1.zillow.com/o_a/IS-ovv44oa5fd5p.jpg



full sized image:
http://photos2.zillow.com/o_a/IS-pd6xz7zmet7h.jpg



full sized image:
http://photos3.zillow.com/o_a/IS-18pi2y1xosd3x.jpg

What moves the rates is fairly well known.  Some of the political and economic factors are known months ahead of time.  Others, the politicians and business and natural disasters like to play surprises on people.  The FED promised to keep buying MBS thus continuing the government subsidy.

The two known political factors presently that will both lower the rates first as the date approaches, and raise the rates after "political action" is taken are:
7.5% reduction of Federal Government spending on Military... March 1st (Sequestration)  (Congress will act "after" the date passes).
Debt Ceiling Limit (May 1st).  (Congress will act "before" the date is reached).

For more information, see the thread:
"rates on the move again"


  • February 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Interesting , as since this post  on 1/14 interest rates spiked up .25% during past 10 days.  Anyone floating would have regretted not locking in, and is why "playing the market" in these historically low rate times comes with more risk than gains.
  • February 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I ask my business friends that are loan originators that question a lot, so that when my clients ask me I can give them an idea.

The general consensus is that the situation will stay like this for another 6 months to maybe a year. But, as others previously mentioned, this is not based on data but rather an estimate based on their past experiences.
  • February 09 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for JamieTian
Hi Janet,

Mortgage rates are always changing and no one could tell you what they would be 3 months from now. I would definitely suggest you to contact a few mortgage brokers and get pre-approved. Many people are surprised they can afford more or less than they originally thought.

I would be happy to refer a few good mortgage brokers to you. Feel free to contact me with any questions.

Best,

Jamie Tian
Real Estate Agent
Rodeo Realty
  • February 09 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Rates are subject to change DAILY...

No one can tell you what rates will be like in 3 months.

Have you been pre approved for a mortgage loan already? If not I urge you to do so. You may be surprised to find out you may not have to to wait 3 months. Rates are at record lows right now, but who knows what will happen three months from now?

I wish you the best of success in your home buying venture :)


Best Regards,
Kawain Payne, Realtor
  • February 08 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Mortgage rates are volatile! We get updates monthly and it seems they are different each month. So there's no telling what they will be in 3-6 months time.
  • January 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi Janet, mortgage rates fell toward record lows again last week reaching 3.38% for a 30-year loan.  They have pretty much stabilized and even if it goes up slightly it is still at record lows.  You should start interviewing several mortgage brokers to get pre-approved and find one that you are comfortable working with. 
  • January 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Ofe Polack
Nobody can tell for sure what interest rates will be in 3 months, but apparently they are going to remain steady.  I suggest you start having discussions with a few mortage brokers and they can keep you abreast of the interest rates that may apply to your specific financial profile.
  • January 15 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi Janet, Rates are expected to remain stable, per the Fed. With that said, anyone that tells you how the real estate market will be in 60 days is full of it. Real estate changes often. Interview several realtors and find one that you feel comfortable working with. Douglas Lagos Realtor®, Certified HAFA Specialist (CHS) DRE# 01921046 Coldwell Banker Residential Tel. [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • January 14 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.