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06-07-2008, 09:11 AM | |
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Mortgage Interest Rates - Wait or lock in now?
Any experts?
We look to be closing on a house by the end of the month. Our broker said we have about 2-3 weeks to lock in the rate. With the news huge oil price spikes on Friday (largest ever) plus the huge jump in unemployment (biggest since the 1986) and the stock market dropping over 300 points, I'm not sure what to expect, other than that I expect moves of some sort. Thoughts? I thought this was a good read... http://www.chicagotribune.com/busine...,3877402.story |
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06-07-2008, 12:38 PM | #2 |
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likely drop in another rate cut, not sure in next 2 weeks though
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06-07-2008, 03:05 PM | #3 |
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06-07-2008, 03:09 PM | #4 |
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The Fed Reserve have a meeting in July right? for an emergency move (Which they already had) would be kinda seem like a panic with July meeting near.
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06-07-2008, 03:24 PM | #5 |
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I wouldn't count on any more rate cuts...besides, mortgage rates usually aren't tied to the Fed Fund rates so that really doesn't matter.....
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06-07-2008, 03:44 PM | #6 |
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I don't see it going much lower if it does at all, but I didn't stay at a Holliday Inn Express last night and I don't work for Scott Trade. It's one big crap shoot.
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