do you think that fixed rate - mortgage rates are going go down or up in 2008?
Posted by admin | Under Fixed Rate Mortgage Sunday Oct 26, 2008not ARM mortgage loans , I am asking about fixed rate loans.
Probably down due to the fear of a recession and the Fed's lowering of interest rates. But they change may be only slight.
Probably down due to the fear of a recession and the Fed's lowering of interest rates. But they change may be only slight.
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I feel that they will be stagnant or higher, not lower.
Banks suffered record foreclosures and will need time to recover from the loss, as more will come in the coming year as more ARM's adjust.
Income has to be generated, and that won't happen if they lower rates much more.
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Up Up Up the Feds are going to lower short term rates to keep the economy running and any more actions will increase the amount of risk the underlying bonds to mortgages will have to absorb thus causing the interest rates to rise to absorb the inflation and credit risks.
UP
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empireteam.com and 17 years experience
Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month<!–therefore it is always a good idea to keep an eye on what the rates are doing. If interest rates should rise, so will your monthly payments and again, if interest rates were to fall, so would the amount you would have to pay.
http://mortgages-finance.awardspace.com/Mortgage-Rate-Compare.htm
Monthly repayments made on your mortgage and the amount that was borrowed, is determined by current mortgage interest rates. Different–>companies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.
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That’s a difficult question to answer. Although the base rate will probably continue to drop, we are yet to see that really filtering through to new mortgage rates.
It’s probably best to speak to an independent Mortgage broker who will be in a better position to advise.