Will mortgage rates continue to fall, stay steady or rise by this time next year?
Posted by admin | Under Mortgage Rates Saturday Nov 1, 2008Trying to determine the best time to buy - would like to have 20% down to avoid private mortgage insurance, but not sure if its worth waiting if the market makes a turn around and interest rates go back above 6%
I realize you cant really predict this, but what are the experts saying?
Rates are going up. I suspect by spring, rates will be back into the 6's.
Being waiting for the bottom of the market might save a few thousand dollars, but people who waited for the bottom of the interest rates will save much more over the life of the mortgage.
Sorry, but my crystal ball is in the shop for its 10,000 prognostication service.
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my husband and I all wondering the same thing. good luck
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I expect rates to start rising very soon. The recent rate cuts and planned tax refund are last ditch efforts to save us from an impending recession and neither strategy will likely work. Just remember that you can always pay on your principal after paying your monthly payment and once you have reached 20% equity all you need to do is submit an appraisal proving it will be omitted from your payment. You don't need to refinance!
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I am a Realtor
PEOPLE. RATES ARE ACTAULLY UP THIS WEEK.
I don't see 30 yr rates going much lower.
This isn't just me talking, it's basic econ 101
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Rates are going up. I suspect by spring, rates will be back into the 6's.
Being waiting for the bottom of the market might save a few thousand dollars, but people who waited for the bottom of the interest rates will save much more over the life of the mortgage.
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Oregon Realtor