How long will the rates remain low?

The low rates have been engineered by the federal government in response to the deep recession. Not since the 1950s have rates remained so low for so long. With this being said, the fed's purchase of mortgage back securities have come to an end and you can certainly expect rates to rise by the end of the year. As far as you owing as much as your home is worth, there are a few options for you. Do you have an FHA mortgage now? Do you have a Fannie Mae loan? With either option, there is relief for you. Send me a private email to discuss. Hope this helps.

You should definitely look into the refinance programs available now for people in your situation. No one knows how much longer rates will last, but there is a consensus that they will go up soon. Also, there are many pitfalls in California that require an experienced California loan officer; I would strongly suggest you look to someone familiar with California specific programs and lending. Gregorio Denny -- WeFixRates.Com --

There is no telling how long rates will remian at these levels. Rates should be uch higher than they are right now. The thing keeping rates low is the soveregin debt crisis in Europe. This fear has led to a lot of money being parked in bonds while this crisis sorts itself out. Once that happens rates will move higher....quickly. In terms of your perceived lack of equity, there are programs thur Fannie Mae/Freddie Mac and FHA that may allow you to take advantage of the current rate environment, even with your lack of equity. Give me a call so we can review some of the specifics and I can go over all your options with you. Joe Shamie. 877-662-3321 x - 102