Zillow Advice: Mortgage - 3% interest rate

Give up already, I already ...

Tue, 11 Mar 2008 03:55:00 GMT

Give up already, I already told you I'm not sharing the info with you. I'm mearly pushing the envelope for others. If you think about it and your smart enough it shouldn't be hard to do, I suppose that may rule you out though.

Hey ghennis, how many times ...

Tue, 11 Mar 2008 03:23:00 GMT

Hey ghennis, how many times are you going to keep writing that? Quit copying and pasting. ANd I thought you knew how to get a 3.99% rate, so why would you need to demand it? Your lying. You can't get a 3.99% rate.

I see no reason why anyone ...

Tue, 11 Mar 2008 03:16:00 GMT

I see no reason why anyone would or should buy a home getting a 6% mort when banks are refi-ing the reckless buyers at 3.99%

If I were buying a house today I would DEMAND 3.99% from the bank.

Those getting the lowest rates are the least deserving.

Great article regarding this ...

Sat, 08 Mar 2008 20:03:00 GMT

Great article regarding this topic: http://www.msnbc.msn.com/id/23412069/from/ET/

Boy, I hope they don't let ...

Fri, 07 Mar 2008 23:52:00 GMT

Boy, I hope they don't let the nasty cycle of teaser and adjustable rates start all over again. Credit card companies change that teaser rate over nothing,. They've had folks with perfect credit who pay every month on time, and they waited until the customers had big balances, and then jacked the rates WAY up high. Or lessened their credit line. or both. Sad. Hopefully, folks will be smarter this time about biting on that sort of thing. And shame on the regulators if they allow it.

Long term interest rates ...

Fri, 07 Mar 2008 19:08:00 GMT

Long term interest rates will NOT drop to 3% with the present expected inflation due to devaluing the dollar.

About 5% is all you can expect for a 30 year fixed in the next 2 years, and you can expect higher after that. But watch for sudden market changes and competion, and you may get as low as 4.8% if you have a stelular credit rating and are quick to jump for a lock.

Some credit cards are now offering a fixed rate of 4.99% with no increases as long as minimum payments are made timely. It is very unusual to see long term unsecured debt rates lower than secured debt.

Still, many mortgage companies are extending teaser rates for ARMs, so maybe there is some room for negotiation.

But the only 3% fixed mortgage rate that I've been aware of in the past 50 years was funded by city, other government agency, or non-profit; based on bonds, for repairing a senior's house; with the interest compounding on the loan balance, and the balance due upon death.

Short term rates for wall ...

Fri, 07 Mar 2008 18:32:00 GMT

Short term rates for wall streeters may go down further. It is very doubtful longer term rates that float the mortage market will. I would be very surprised if they went down more than another 1/2 point. It messes up the great world float that this country's economic base is now built on. They will not do too much more fiddling because too many foreign investors are ticked off, to say the least, and may no longer cooperate with other critical budgetary functions if they sweep this too much further under the rug with smoke and mirrors. The bright side is, many more folks are becoming educated about economic processes, and are realizing how important housing is to the whole economy. I just wish the ME FIRST attitudes would change a bit.

The '3%' rate you're referring ...

Fri, 07 Mar 2008 07:52:00 GMT

The '3%' rate you're referring to is the Fed Fund Rate, which is currently sitting at 3%.......this is the primary rate the Fed Reserve is affecting when they decide to change it. This same rate determines what banks charge each other to cover short term reserve requirements.

Mortgage rates fluctuations are determined by the supply and demand of mortgage backed securities trading in the bond markets. The Fed's open market decisions have no bearing on these securities...

It is not about rate. Last ...

Fri, 07 Mar 2008 03:12:00 GMT

It is not about rate. Last weeks rates were the lowest 30-yr fixed rates in 45 years. 3% does not bring out the buyers. Moves like today's FHA change and DPA announcement brings out the buyers. 3% just make gas $5 a gallon (means were in a big depression)