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Will lower rates be for everyone, or just thouse who are in forclosure?

Profile picture for HigherEd
If the mortgage modification plan passes or becomes more then just a thought, will it cause lower rates for all borrowers or just thouse in forclosure? I just purchased a home that is being constructed and have not locked into a rate yet, the closing is estimated in May or June.
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February 16 2009 - Blackwood
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Answers (1)

Profile picture for FHA down to 620 OK!

The good news is you're really not in a position to lock anyway. It would cost you about .75 of a point for a lock that long. However I do not see rates going any lower than they are now. Banks are barely making a profit as it is. There is much more room for upswing then for a downswing.

Soon as you can get within 30 days of closing LOCK. The money is on the table now.

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1Yes

February 23 2009
 

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QuestionWill lower rates be for everyone, or just thouse who are in forclosure?
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