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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- 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
- 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
Knowledge Base
where can I find a mortgage refinance if I have bad credit?
it depends on how much equity you have in the house. lendingtree.com, eloan.com refinanace. ameriquestmortgage.com mortgageloan.com. i'd be happy to point you in the direction of a good and fair mortgage broker. i was in the residential lending market for years before moving into commercial real estate. also, if you (mortgage refinance rates)
Do we need to get a new le insurance when we refinance our home mortgage loan?
we bought a le insurance when we first got our home loan. we are now refinancing with another bank and they are requiring us to get a new le insurance. is this right?. i work at a mortgage company, and most banks require le insurance for every mortgage that they (home mortgage refinance loan)
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 (home mortgage refinance loan)
Knowledge Base: Mortgage 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 (best refinance mortgage)
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (mortgage refinance rates)
How can I get a High - LTV ration mortgage refinance loan?
i have a recently purchased condo in dc with a value that continues to tank with the economy. currently have 2 mortgages on it making the ltv somewhere in the neighborhood of 110 percent. looking to refinance i have relatively high income, excellent credit property value approximately $250, 000 and (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 loans)
best bank to refinance mortgage?
what would be the best bak of choice to refinance my mortgage?. that's a trick question. i would suggest you first ask your regular banking account manager. === if i was paying off a mortgage - and never missed a pymt - ? i'd go shopping for money. where. ? (refinance mortgage bad credit)
Knowledge Base: 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)
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)
I have a mortgage I want to refinance to get the new lower rates. Which bank should I go to?
which bank and what rates, terms can i get now? i have very good credit, never missed a payment. the rates the mortgage broker gave us 2 years ago were horrible, and we never pay off the principal. i want to pay off the principal with good rates. which bank (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)
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)
