mortgage / refinance?
based off of the most common outlook for the housing and financial markets, are mortgage and refinance rates going to decrease?- The answer is right now, it is anyone's guess as to what is happening with the market, because the entire market is collapsing at the same time. I work for a very large conventional mortgage lender, and the ususal indicators that would point to rising / lowering rates are conflicting at this time. That being said, here is what is going on, or things you can follow that may help better answer your question: 1. The dollar is weak - normally would mean rates increase, as this would help attract foreign currency, and push the value of the dollar back up, and thus lower rates in the long - run. 2. Mortgage rates follow the 10 - yr treasury index - long term mortgage rates typically follow the 10 - yr treasury, and this is the best indicator of rate behavior from one day to the next. Rates will run anywhere from 2 - 3. 5 points higher on average depending on other factors. 3. Fed cuts do not equal mrotage rate cuts. This is the oldest myth in the books, but Fed ACTIVITY and DECISIONS can impact mortgag rates. Example, the last 3 fed cuts in 2007 pushed mortgage rates UP. 4. Good news for the stock market is generally bad news for rates, as people take money out of bonds / treasuries, and dump it back into stocks, thus increasing yields. 5. Recessions are typically good for rates, as people invest mroe in bonds / treasuries during these times, pushing yields down. 6. Liquidity - or what people call demand - will affect rates. If there is no demand for mortgages on the secondary market as there is right now then rates go up, and vice versa. 7. PMI companies - yes, these people have a big impact on mortgage programs and rates. You will not be able to finance a hundred percent of a home anymore, at least not conventionally for some time, as the PMI companies will not insure them anymore. Also, two of the largest PMI companies in the US are not expected to make the end of the year, so expect rates - based on this alone - to increase, unless something else happens. 8. Bear Stearns, and other such companies, that go under affect liquidity, and thus rates, and program availability, etc. As you can see, these are only some of the issues that affect rates. Right now the trend is upward, and it is anyone's best guess as to when it will stop. According to Greenspan's book, he sees rates going back into the double digits sometime in the coming years like back in the 80's. Also, a mortgage program that was available yesterday, may not be availabe in a week, or even tomorrow, and there is no control over this. We live in a free market, and therefore, these changes happen all the time. Also, the agencies Fannie Mae and Freddie Mac that govern conventional mortgages are implementing pricing adjustments that will affect everyone with scores less than a 710 pretty soon, so rates will be much higher for people with lower scores. Lastly, mortgage markets are forward - looking, and if the investors feel the news is bad, which it is right now, expect rates to reflect that. Inflation is increasing, and so will rates. I know that this may not directly answer your question, but I hope it helps
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- Looking at the current trend with ever changing market it would be difficult to predict the exact market position in coming years. But if you are interested in refinancing go for it. Learn more on refinancing & mortgages: 4refinancemortgage.com / index.html
- They are not directly related. You are talking about two different markets - housing and financial. And mortgage rates are actually rising right now as the housing market continues to deteriorate. No lenders want to loan into such a crummy market. Would you? If prices kept falling and foreclosure rates kept rising? If a refi is right for you now, then look at getting it done. do not expect much help from interest rates
- Check out mortgagefigure.com for lots of articles and information to answer your mortgage questions
Knowledge Base
In this economy, would it be easier to refinance home mortgage rate?
since alot of ppl is giving up their house, then would not it be easier to refinance home mortgage?. no. refi conditions and and requirements have greatly tightened. you can get help in here mortgagewallet.com. they always had that chance. the problem is they are under water so to speak (best refinance mortgage)
Can I get a no doc mortgage Refinance loan with a 600 Fico Score?
fico scores range from 585 - 621. self employed, bankruptcy within past year. do not care about interest rates. honest, kind answers only, please. no doc mortgages are really in disfavor because they caused much of the mortgage mess. if they are available to anyone, it would require a higher (mortgage refinance rates)
Looking to find lowest refinance home mortgage rates?
i?m looking for a better home loan mortgage rate than i currently have with my bank. so i am seriously considering refinancing. does anyone know where i can currently check for the lowest refinance home mortgage rates?. the first thing i would do is get a copy of your credit (bad credit mortgage refinance)
Knowledge Base: Mortgage Refinancing
What is the best refinance plan to reduce my monthly mortgage payments?
i am looking for the best plan as in: - not getting my face ripped off in closing cost - not increasing my current interest rate of 5. 8 to something over 8% - not having to pay thousands in points it seems i am having the same dilemna as (best refinance mortgage)
how do i get the best mortgage refinance?
hey kevin, it may sound left field, but i'd go for an interest only mortgage. you can take the difference in payment and put it in a vehicle that's safe, liquid, and earning interest even a savings account. most do not do it because most do not understand the risk (mortgage refinance rates)
how to obtaining a mortgage refinance or loan modification?
i want to know about how to modify our loan and refinance our mortgage. same way you got your first mortgage. talk to your lender first then try others. for a refinance talk to your lender or broker but if you need a loan modification or principal reduction if you (mortgage loan refinance)
I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees. ?
does anyone have any suggestion? where to look, what to stay away from or tricks of the trade. made a poor decision on our present mortgage and do not want to do a repeat. am locked in on present note for 45 more days and then we want out. looking (mortgage refinance rates)
How to get best mortgage refinance rates ?
loansstore.com / mortgage - refinance - loans / . checkout this foreextreding006. blogspot.com. usloanz provides one of the best mortgage refinance rates in the industry. hope it helps you to get low interest rates. visit: usloanz.com / mortgage - refinance.php. you may qualify for the government refinance program. you should (mortgage refinance rates)
Knowledge Base: Mortgage Refinance Rates
Mortgage Rates - Refinance?
i live in virginia and recently purchased a home. this is my second mortgage. i had no idea how much mortgage rates had increased. i am paying 6. 75 as compared to 6. 125. are mortgage rates expected to climb or is it possible for me to refinance and get (mortgage refinance rates)
Where can I find the lowest mortgage rates and refinance rates in the USA on the internet?
do you think the rates have hit bottom? we like to use a local mortgage broker but the last time they did not over us the lowest rate out there. we knew the lowest rate from bankrate.com so we got it. bankrate.com no longer lists the lowest rates in the (mortgage refinance rates)
Are the interest rates the same between people who take a new mortgage and those who refinance?
i want to take advantage of the decline in intest rates by refinancing my mortgage. when i search online i find a lot of rates quoted for new loans but not much for refinancing. is it safe to ume the refinancing rates will be similar to the new buyer's rates (mortgage refinance rates)
Looking to find lowest refinance home mortgage rates?
i?m looking for a better home loan mortgage rate than i currently have with my bank. so i am seriously considering refinancing. does anyone know where i can currently check for the lowest refinance home mortgage rates?. the first thing i would do is get a copy of your credit (mortgage refinance rates)
mortgage / refinance?
based off of the most common outlook for the housing and financial markets, are mortgage and refinance rates going to decrease?. they are not directly related. you are talking about two different markets - housing and financial. and mortgage rates are actually rising right now as the housing market continues (mortgage refinance rates)
