| Mortgage Rates Increasing? |
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payment proof
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| Mortgage Rates Increasing? |
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Do you think Mortgage Rates will increase since S&P downgraded the United States credit rating from AAA to AA?
I'm thinking they probably will go up a bit. If it's more expensive for our country to borrow, ultimately it will be more expensive for us as individuals to borrow.
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Mon Aug 08, 2011 6:21 pm |
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littleroc02us
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| Re: Mortgage Rates Increasing? |
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quote:
Originally posted by payment proof
Do you think Mortgage Rates will increase since S&P downgraded the United States credit rating from AAA to AA?
I'm thinking they probably will go up a bit. If it's more expensive for our country to borrow, ultimately it will be more expensive for us as individuals to borrow.
Who knows, but stock is cheaper and gas has gone down big time.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Aug 08, 2011 7:03 pm |
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coaster
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Actually, it's gotten LESS expensive for the Treasury to borrow, since Treasury debt yields are down big time on the stock market sell-off.
~Tim~
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Mon Aug 08, 2011 7:08 pm |
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MikeMiks
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Hey! I just read the news released by Federal Reserves saying that they are promising a low mortgage rate until 2013. I think that was a good news for many people in real estate industry and most especially to homeowners and buyers.
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Thu Aug 11, 2011 9:59 am |
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coaster
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The Federal Reserve doesn't control mortgage rates. They don't even control interest rates, period. They can influence interest rates by their activities in the debt markets, and by their reserve requirements for member banks, but they cannot control them. A widely-held misunderstanding.
~Tim~
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Thu Aug 11, 2011 9:44 pm |
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Herleston
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Due the step taken by the federal reserve institution, it seems imminent that mortgage rates will go up and hence it will lower the trend of loan issuance. General public tend to take loan more often and this trend will be affected.
Chicago Lincoln Park Real Estate
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Fri Aug 12, 2011 3:50 am |
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payment proof
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quote:
Originally posted by Herleston
Due the step taken by the federal reserve institution, it seems imminent that mortgage rates will go up and hence it will lower the trend of loan issuance. General public tend to take loan more often and this trend will be affected.
If interest rates do go up, hopefully they will not go up by much. I don't think the current economy and housing market can handle it.
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Mon Aug 15, 2011 6:19 pm |
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soniyasams
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It is not possible to describe any one or two factors which make mortgage rates fluctuate, it is a combination of many direct and indirect economic factors. moreover one of the main factor to increase the mortgage rate is increase in foreclosures on homes.
credit check
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Fri Aug 19, 2011 12:44 pm |
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littleroc02us
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I just locked in 3.83% for a 20 year mortgage yesterday.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Fri Aug 19, 2011 1:26 pm |
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coaster
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I got 3.875 on a 15-year fixed; gotta get in touch today to schedule close.
This mortgage started out at $711 a month; after this third refi it'll be down to $451. Yes, the term has been stretched, but I plan to pay it off long before, and I pay off the added closing cost long before then.
~Tim~
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Fri Aug 19, 2011 4:08 pm |
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payment proof
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Wow! $711 a month down to $451 is fantastic! And sounds like you have a great repayment plan too. $451 is a lot less than many people pay in rent a month!
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Fri Aug 19, 2011 5:59 pm |
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Offshore-Wealth.com
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Interesting,
Having been in the real estate industry for years, the problem is not low mortgage rates, it is the overall economic uncertainty killing both the housing market and now, manufacturing. All signals are now indicating we never really got out of recession, so double dip is a kind phrase whereby it should have been stated as a four plus year recession as I see it.
As to morgage rates, they can't get any lower than they are now, but they sure can go higher. With hidden problems now coming out about the big three banks and their mortgage fraud mess, sooner or later these toxic mortgages on their books have to be disclosed. BoA is laying off thousands trying to keep this internal issue hidden for as long as possible. Then the $hit really hits the fan, rates will go up, so now is the time if you need a mortgage as I see it.
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Fri Aug 19, 2011 6:05 pm |
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Eric80
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| Mortgage Rates Increasing? |
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Interest rates are low for the moment and it is inevitable to increase over time. It is a fiscal policy for the economy to keep them low for the moment as it is an incentive for business to start up, with the idea that companies can borrow at low rate they will be an increase in start up and create jobs. Interest rate will rise because inflation will rise and they need to be close together otherwise the value of money will fall, the question is when will it rise?
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Fri Aug 19, 2011 10:39 pm |
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coaster
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The problem isn't interest rates; the problem is credit. Lenders are afraid to lend. It's all the uncertainty. I'm closing next week on my second refi from the same lender (third refi on the home) and despite a credit score over 800 I couldn't believe all the hoops I had to jump through this time around.
~Tim~
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Sat Aug 20, 2011 2:52 am |
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