Mortgage interest rates - rise or fall this week?

[Anonymous]

What’s your prediction? Trying to decide today if we want to lock or float our rate for our financing.

[Anonymous]

I believe there was an article in the Post in the last day or two on this issue. I only scanned the headline.

[Anonymous]

Locked in at 4.625

[Anonymous]

Anonymous wrote:Locked in at 4.625

Who did you use? We were looking at locking in 4.75.

[Anonymous]

curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

[Anonymous]

Anonymous wrote:curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

We paid about 2 grand to go down to 3.875. I think that's totally worth it. Remember you're going to be stuck with that rate for awhile, I doubt rates will go back down to a normal level of 3.875 any time soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

We paid about 2 grand to go down to 3.875. I think that's totally worth it. Remember you're going to be stuck with that rate for awhile, I doubt rates will go back down to a normal level of 3.875 any time soon.

3.875 is near historic lows and nowhere near “normal.”

[Anonymous]

They will rise!

[Anonymous]

7 is a more normal rate

[Anonymous]

I locked in at 4.5 three weeks ago.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

We paid about 2 grand to go down to 3.875. I think that's totally worth it. Remember you're going to be stuck with that rate for awhile, I doubt rates will go back down to a normal level of 3.875 any time soon.

3.875 is near historic lows and nowhere near “normal.”

Seriously- who doesn’t know that?

[Anonymous]

Hope you locked it in, OP. https://www.npr.org/2018/06/13/619212907/interest-rates-expected-to-go-up-with-more-hikes-to-come

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

We paid about 2 grand to go down to 3.875. I think that's totally worth it. Remember you're going to be stuck with that rate for awhile, I doubt rates will go back down to a normal level of 3.875 any time soon.

3.875 is near historic lows and nowhere near “normal.”

Interest rates were under 4% since November 2011, falling anywhere between 3.4% and 3.8%. So historically, yeah it's not normal, but it was average for the last 6 years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:curious on what people's thoughts are on paying for half a point or a point to lower the rate. worth it? i guess it just depends 1) if you have the cash 2) how long you plan to stay

We paid about 2 grand to go down to 3.875. I think that's totally worth it. Remember you're going to be stuck with that rate for awhile, I doubt rates will go back down to a normal level of 3.875 any time soon.

3.875 is near historic lows and nowhere near “normal.”

Interest rates were under 4% since November 2011, falling anywhere between 3.4% and 3.8%. So historically, yeah it's not normal, but it was average for the last 6 years.

Yep. Got 3.375 for a fixed in 2015. It’s a shame the rates are going up, because we plan to sell next year.

[Anonymous]

Anonymous wrote:Hope you locked it in, OP. https://www.npr.org/2018/06/13/619212907/interest-rates-expected-to-go-up-with-more-hikes-to-come

NP. The fed funds rate is not highly correlated with mortgage rates. https://www.stlouisfed.org/on-the-economy/2017/october/increases-fed-funds-rate-impact-other-interest-rates