What’s your prediction? Trying to decide today if we want to lock or float our rate for our financing. |
I believe there was an article in the Post in the last day or two on this issue. I only scanned the headline. |
Locked in at 4.625 |
Who did you use? We were looking at locking in 4.75. |
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.” |
They will rise! |
7 is a more normal rate |
I locked in at 4.5 three weeks ago. |
Seriously- who doesn’t know that? |
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 |
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. |
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 |