How long must I wait for the Rates to drop again? If at all?

Enter your answer here

maybe never

Well they went up again today and with the basic announcement that QE# is coming to an end, count on them to keep raising. This was projected to happen 2 years ago and it's finally here.

If the economy continues to make positive improvements, mortgage rates are not expected to drop again. If you are planning on purchasing or refinancing now is the time to do it - do not wait to see if rates get lower, because you may miss out.

Act quickly, rates are on the way up.

They have been very low for such a long time. House Speaker Boehner was just interviewed this week and said that Bernanke is wrong to have kept rate so low for so long. The equity markets are pricing in this rate hike and rates have gone up the last 3 weeks. I'd go for it now if it meets your objective.

looks like they will keep rising

looks like they will keep rising

I'll bet heavily that by the end of the year, the average 30-year fixed rate will be closer to 5.00%, rather than anything lower. If possible, act now.

If you are in the market for a mortgage, DO NOT hedge your bets on a lower rate. News channels are saying the 10 year treasury note will be pushing towards a high of 3.00. The higher the treasury not the higher your rate. 10 year treasury is at 2.64 as of this morning at 9 am.

If only we had the crystal ball. The current trend is for rates to keep increasing. How quickly and how high are the real questions. Now, the current, rapid increase we've seen over the last 2 weeks or so is, in many experts opinion, an overreaction to recent data showing the economy making a comeback as well as the Fed hinting at ending QE3. We could see a correction in the short term, leading to lower rates... but the windows of opportunity will most likely be short lived. If you can find a rate now that works for you.... LOCK IT!

You are asking a good question...without getting too technical, mortgage rates are directly tied to the the prices of Mortgage Backed Securities (MBS). These MBS are bonds. Bonds have a PRICE and YIELD and they move in opposite directions, meaning when a bond's price is going up the yield falls and vice versa. You can think of the yield on MBS as the rate you would pay as a consumer for your mortgage loan. There has been an EXCESSIVE amount of selling in the bond markets since May 1 and most of it surrounds the anticipation that the Federal Reserve will BEGIN to reduce the pace at which they pruchase these securities to end what is commonly referred to as QE3. This selling is what has driven rates higher. The bond markets have begun to price in what they are calling the tapering of these purchases. Our opinion is that the markets have overreacted. However, that doesn't mean anythning since the markets can remain irrtational longer than we can remain solvent. You probably have missed the best rates. Whether the rates get better or worse from current levels is something everyone in the markets is trying to figure out.

The window of opportunity for the phenomenally low interest rates has, essentially, closed. I locked a 3.875% interest rate for a client on 5/16 for a $625,500 loan. Today, the very same loan at the very same cost would be at a 5.25% interest rate. Had my client not seized the moment on 5/16, and decided today to lock an interest rate today, his loan would be costing him $440 more monthly. Consequently, if you are seriously considering refinancing, I strongly advise you to do it sooner rather than later. There is no telling how high interest rates are going to get, or if they are going to go down. Waiting for them to do that would, most likely, not be wise. Interest rates are still low but just not as low as they were before. In this business, you really have to strike while the iron is hot. Interest rates wait for no one. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Bad philosophy. No one has a crystal ball, which means no one can tell you when or if rates will come down again. The longer you sit on the sidelines waiting, the more likely you are to get burned. If today's pricing works for you, strike while rates are good. You can't time the market as the market will always win. Rates are good. If you can, lock it and don't look back. If they do go down, be thankful that they didn't go up, and if they go up, be thankful you are locked. The only people that get the best rate possible got it by luck of the draw. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950.

Bad philosophy. No one has a crystal ball, which means no one can tell you when or if rates will come down again. The longer you sit on the sidelines waiting, the more likely you are to get burned. If today's pricing works for you, strike while rates are good. You can't time the market as the market will always win. Rates are good. If you can, lock it and don't look back. If they do go down, be thankful that they didn't go up, and if they go up, be thankful you are locked. The only people that get the best rate possible got it by luck of the draw. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950.