Is Mortgage rate's gonna go down again?

[UpSideDownDesi]

3 days ago it dropped to 5.25% for a 30 year loan. Feds are having another meeting on the 29th. Do y'all think it's gonna do that low or lower again?

[Sammich]

for a fixed mortgage?? what kinda credit you gota have for that kinda rate?

[UpSideDownDesi]

for a fixed mortgage?? what kinda credit you gota have for that kinda rate?
lenders are being very strict about giving out loans, but if you have good credit you can get that loan. Today's rate is 5.46% for a 30 year fixed loan.

[Sammich]

dang...thats pretty good. i'm workin on getting rid of my CC then ima have to find out how to get my score back up at least to 700

[SampaGuy]

i hope not because mortgage rates go hand in hand with bank interest rates... ING savings account is down to 3.65% apy WTF

[UpSideDownDesi]

i hope not because mortgage rates go hand in hand with bank interest rates... ING savings account is down to 3.65% apy WTF
i hope mortgage rates stay low.....housing market is suffering coz people are not buying houses and there's surplus of houses. On top builder are building new ones everyday. Hand in hand...if housing gets better....bank rates will get better too.

[Sammich]

i hope the incentives arent gone by the time i'm ready to purchase

[UpSideDownDesi]

i hope the incentives arent gone by the time i'm ready to purchase
market's low rite now and housing market doesn't seem like it will be going up anytime soon. They are saying...it will be 2010 or 2011 before it gets back to normal, but rates might up

[Sammich]

i think by 2009 i should be able to be completely straight and ready to get a home

[Kevykev]

I need to refi I have an ARM at 5.125 that will adjust in '10.

Rates should still be low by fall when i get ready for another purchase.


hopefully.

[ShooterMcGavin]

whoa, where u gettin that 5.25% rate from? i have an arm that just adjusted, it's still low but i'd like to lock it in if possible.

btw, gmac is where it's at, they're still at 4.2 i think :D

[UpSideDownDesi]

whoa, where u gettin that 5.25% rate from? i have an arm that just adjusted, it's still low but i'd like to lock it in if possible.

btw, gmac is where it's at, they're still at 4.2 i think :D
from countrywide....i guess excellent credit helps. I am wainting on fed meeting tomorrow...hoping they are gonna drop prime by another .25%...if so i am refinancing all my properties and $$$$$$ :D. Lets all hope for the good.

[chnco]

Countrywide just got bought by BOA.

Good luck.

[ShooterMcGavin]

yeah but the deal hasn't gotten through yet. anyway there are even better rates than 5.25 depending on what kinda loan u get. bankrate.com ftw though :D

[UpSideDownDesi]

yeah but the deal hasn't gotten through yet. anyway there are even better rates than 5.25 depending on what kinda loan u get. bankrate.com ftw though :D
yea hasn't finalized yet...bankrate.com is at 5.45%....where did you see less than 5.25%. Looking at the market...looks like rates are gonna go down again. I am just hoping it dromp before 5 for 30 years. :D

[ShooterMcGavin]

rate varies depending on the exact loan and whether or not u buy points.

[UpSideDownDesi]

rate varies depending on the exact loan and whether or not u buy points.
yea i was talking about without buying point. Fingers crossed till end of the day today.

[ATK_Designs]

I think the rate just dropped. Even my saving rated just dropped yesterday. I hope it stays low until 2009 so I can get another house by then.

[Dr.G35]

it did its around 5.0 right now

[BB6dohcvtec]

yeah but the deal hasn't gotten through yet. anyway there are even better rates than 5.25 depending on what kinda loan u get. bankrate.com ftw though :D

its basically done. we are keeping it under the countrywide name for the first year than slowly integrating their system with ours. BOA bought them out for dirt cheap tho.

[UpSideDownDesi]

its basically done. we are keeping it under the countrywide name for the first year than slowly integrating their system with ours. BOA bought them out for dirt cheap tho.
$4billion or did they beat em dow to a lower price?

[BB6dohcvtec]

it was 4 billion but for a mortgage company of that statue and with the market crapping out thats cheap because if the market was normal it would have cost a hell of alot more.

[Jaimecbr900]

Feds are announcing another adjustment this afternoon. The fluctuation will only affect short term rates, i.e. arms and variable rates, directly. It will take some time for it to trickle down to the fixed mortgage rates, but it will eventually drop those too.

If you've not refinanced your loans yet and are at some crazy rate, it's now the time folks.

BTW, all those printed rates are just that....PRINTED....not actual. You have to have VERY good qualifications to get all those ultra low rates that some of those lenders post online. Don't get suckered into a bait-and-switch situation. Far too often people think that just because they SEE some interest rate posted online that they will automatically qualify or even get that. It's not that cut and dry.

With that said, you should always deal with trustworthy people. ;) :goodjob:

[Kevykev]

Call Jamie Guys, he'll get you that rate you're looking for!

[UpSideDownDesi]

they just cut the rate by .5%.....another big cut. So now prime is at 6% and i can get another .25% cut (and i could get y'all the same) for no extra charge :D. 5.75% prime....Time to pay off investment mortgages.

[big daddy]

im waiting a few more days till i refi. right now i can get 5.5 im hoping for a little lower!!