Mortgage Rates , Poll , Up, Down or Sideways?

[bigfrank Administrator Find all posts View Profile Close bigfrank]

What do you think, with in lets say the next 60 day's Are Mortgage Rates going to be going up or down or is going to stay around where we are at now.

[dale7 Senior Member Find all posts View Profile Close dale7]

We just refinance this week and the loan person said to keep a eye on interest rates because she thought they may go down a another 1 half of a percent soon.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Sideway. But not stable (see 900 point stock market swing to realize it is not going to be stable). The 30 years went down about 1 month a go to below 5% (just for a short period). But the requirement is very high.

With prime close to 0%, but bank scare death to lend, you will see up and down for a min. 5% lower will be very hard to get though.

Jya-Ning

[garyd210 Senior Member Find all posts View Profile Close garyd210]

Ding! Going up!

We re-financed our HELOC last summer, which is tied in with the prime. Our current bill was at 2.74%. I checked with the bank we re-fi'd through and they've tightened up their percentage less than the prime considerably. So glad we applied when we did. With a 800+ Fico and a 6.5% HELOC at Wells Fargo, the offer was too good to pass up(especially when Wells Fargo didn't return calls twice).

garyd210

[funtime2 Senior Member Find all posts View Profile Close funtime2]

I am glad that I do not have out a loan so viewing it from that standpoint - how low can it go? At what point will there be no profit? When there is not profit then the lending industry is not able to survive. Thus those who have money in savings will be affected too because they will not make any interest. It is a vicious cycle. One thing that I am glad to see come into the light are the excessive spending practice of those in high places. From the planes, redecorating/design, cars, etc..... all of it - I am not saying that they should not look professional, but please not on the back of the consumer.