Since the 10 Yr. Note is dropping like a stone today, should I lock contained by a rate today or wait until tomorrow? Last week, the rate offered be 6.125% but today I heard it's 6.375%? Should I only just lock in at 6.375 or hold out for a lower one due to the 10 Yr. Note dropping or will that even brand name much difference? Thanks!
Answers: Lock it in ... if it drops a great deal more you can reapply. Plus the rates won't change till Monday very soon. The difference in the rate you are stating is around 8 cents per thousand per month. ... Not much.
Nobody can give you a 100% unflawed answer to this. As a mortgage lender myself- I am wanting to refinance my own home- I am not locking my rate yet. Hoping they will be in motion back down- they hold really been rising pretty express this week but personally I am holding sour for a 6%. Of course, mine is a refi. not a purchase so I can afford to wait it out.
Good luck Good luck.
Most investors believe we will not soon see much lower rates on mortgages. One afternoon might be slightly lower but on the whole we are on our process (gradually) up. Mortgages are based on what the investors believe just about inflation over the period of the loan. Do you believe we are plausible or unlikely to experience higher inflation over the subsequent several years (than we have experienced over the final several years).
I would float at this point. The stocks are down but so is thebonds market so it looks approaching rates are lvel at this point in time. you want the bonds going up as it reduce the yield and you also want the stock marketplace down as well i.e. when rates will fall
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Answers: Lock it in ... if it drops a great deal more you can reapply. Plus the rates won't change till Monday very soon. The difference in the rate you are stating is around 8 cents per thousand per month. ... Not much.
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Nobody can give you a 100% unflawed answer to this. As a mortgage lender myself- I am wanting to refinance my own home- I am not locking my rate yet. Hoping they will be in motion back down- they hold really been rising pretty express this week but personally I am holding sour for a 6%. Of course, mine is a refi. not a purchase so I can afford to wait it out.
Good luck Good luck.
Most investors believe we will not soon see much lower rates on mortgages. One afternoon might be slightly lower but on the whole we are on our process (gradually) up. Mortgages are based on what the investors believe just about inflation over the period of the loan. Do you believe we are plausible or unlikely to experience higher inflation over the subsequent several years (than we have experienced over the final several years).
I would float at this point. The stocks are down but so is thebonds market so it looks approaching rates are lvel at this point in time. you want the bonds going up as it reduce the yield and you also want the stock marketplace down as well i.e. when rates will fall
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