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Originally Posted by uhohNumber2brb
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Originally Posted by jl9618
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Originally Posted by uhohNumber2brb
another  , are mortgage rates goin to stop rising anytime soon?? |
Good question. Are you talking about 1st mortgages, fixed 2nds or Helocs? The short answer is yes, no and it depends. Very rarely can a general mortgage question be answered simply for all situations. With Greenspan resigning it will be interesting to see what happens. |
1st mortgages....I was shopping around for a house for the past couple of months and mortgages jumped up over a point. I was thinking about being less picky and just buy a house before the rates go up anymore... |
I don't think anyone knows for sure but I am predicting 1st mtg rates to come down a bit in the next 2-6 months. Greenspan will be out and I don't think the fed will raise prime many more times. The language was different the first time in a while this past increase. Retail tends to trail off and can have an effect on unemployment. The market is always moving and sometimes your housing needs and timetable dictate your rate. People forget that mortgage rates are still VERY good historically. True they are not as low as they once were but anything below 6% is a good rate. Currently they can be had for less than 6% as well.