mamagirl65 asked:


I got a 2 year fixed loan almost two years ago on my mortgage with money out to clean up credit so I could get a better rate but the rates have rose even higher. Should I lock in now or wait 5 months I have left to see what happens?

Flea asked:


Will mortgage rate fall below 5% in the new year, will inflation raise greater than 3% will the US dollar ever match the British pound what do you think? Serious educated discussion please.

Butz asked:


Since the fed has dropped rates so much, I keep checking to see Home mortage rates. If they drop enough i will refi. I already have a good fixed rate but, I would like to save money if i could by getting a better rate on the mortgage on my house.
By the way my credit score is 791 excellent. The rate i have now is 5.25% on a 15yr fixed mortgage

jpod asked:


I am interested to find out what will make the 30 year mortgage rates rise and fall? I have heard that it is tied to the treasury note. Please help. Thank you.

John S asked:


I have an 80/15 loan for 30 years and am looking to refinance into a 15 year loan and have a %80 loan to value. Does anybody thing the rates will continue to decline?
My current rate is 6.6% for the 80 and a variable for the 15 which has ranged from 8-10%.

areusmarterthanafifthgrader asked:


Does it affect fixed rate mortgages?

Jojo asked:


Right now my husband and I are looking at 5 %, but I think we can at least get 4.75. Should we hold out for that or not? Or wait for even lower?

happee asked:


We’re planning to refinance our 7-year ARM (5.125%, expires 12/2011) and 7.9% 2nd mortgage. Right now, we can get it at 6.25% in one mortgage, but we were hoping for a 6.125 or 6% mortgage (since we’re not in a huge rush to refi, but want to play it safe since rates are pretty decent on 30-year loans).

I know the Fed might drop rates again before the end of the year, but I know it doesn’t directly affect rates as much as stocks, bonds, and the Treasury Bill. These are the aspects of the market I am clueless about…

What do YOU predict will happen or what would you recommend we do? We would be paying less than we pay now, no matter what, so we’re gonna refi, it’s just a matter of when.

Thanks SOOOOO much for your help! If you give the best/most accurate prediction or recommendation, I’ll send you a box of goodies (7-layer bars, cookies, brownies, or your choice)! And they’ll be awesome, I promise!
FYI: We do plan to stay here for AT LEAST 10 more years. Otherwise, we wouldn’t consider switching.

Our loan would be for $320,000.
I should also point out that our mortgage payment would DROP from $2428 to $2358 (at 6.5%). Our second mortgage at 7.9% on 90,000 is the reason…

We’ve paid $9,000 in principal in the past 33 months and our home is valued at $380,000 (appraised).
Buying down the rate actually costs more, even long-term, so we won’t be doing it again.
Thank you so much, everyone, for all of your thought-out answers! I’d love even more…
I think we can afford to wait a few more months–if needed–to catch a slightly better rate. Our credit is good (700+), so I think we can get a decent loan.

Chris O asked:


We have 4 years left on our 5 year term of 5.1%….there is still 208k left on our mortgage, the table looks like we should have it paid off in 18 years.

With rates the way they are, how do I figure out what point it makes sense to pay the penalty and re-negotiate my mortgage rate early of the renewal?

This is a Canadian question, and RBC is the lender if that helps.

PoMoFo asked:


My closing is in October and locked in, but my lender said if rates drop by .375, we can probably renegotiate.