When should i lock within my mortgage rate? 1/23/07?
Monday my interest rate was going to be 6.87 if i locked surrounded by, i waited another daytime and Tuesday it was 6.75. Today Im not sure what it is. How long do you reckon i should wait till i lock surrounded by? And is there somewhere i can walk to see home much the rate has drop since yesterday? Or should i lately wait till my loan officer call and lets me know the rate?Answers: There is the odds that rates could continue to drop, depending on the stock market and financial news. Generally speaking right in a minute, the more the stock market falls, the lower rates will take. If we're really in a recession and decline will continue, it would be better to lurk. If the economy is improved than thought, then lock immediately.
Personally, I think rates will verbs to fall. This rate drop yesterday doesn't directly affect mortgage rates, but eventually will come out of into them. Check out my rate lock page below for more info.
If you already have a loan officer, yes ask them what you should do.
However, to be precise an extremely high rate. Unless here are negative variables affecting that rate, manufacture sure you've checked around before locking and going near the first LO or Broker you come across.
Good Luck
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Whether rates continue to spatter or not are a guess, I'd lock to be sure.
Would it be fair to call the housing bubble a "mania"?
Answers: A mania? It's House-mania! I have got to come up with some advertising around this.
No, considering "mania" is defined as a high level of excitement or enthusiasm, I don't think the term mania suits this market.
No, it’s called economics…when demand for homes (or anything) exceeds the supply of available homes, the price of said homes will increase. However, eventually, you’ll hit a point where the market exhausts the supply of available buyers that can afford the ever increasing values. This causes a drop in demand – if you can’t afford it, you can’t be in the market. Less demand equals lower prices. So all you’re seeing now is the market correcting itself.
What is the difference between a condo and a townhouse?
Answers: Condo on top floors
TownHouse starts at Bottom !
A condo is either an apartment that you buy instead of rent, or a one-story house that is not connected to other houses.
A townhouse is usually at least two stories, and shares walls with the houses next door. Townhouses are actually very structurally safe, because they are connected and reinforced, so they are less likely to fall in an earthquake and such.
The differences will vary from state to state but here is a good website that gives you a lot of detail on the common differences between the two.
http://www.carolingibson.com/PageManager...
plz tell me meaning of condo and a townhouse and then u would automatically know the difference