Whens the best time of year to acquire a mortgage loan?

No better time than now.. But it depends on whether your purchasing a new home or trying to refinance... if your trying to refinance, you should absolutely apply now.. We know there will be a big selloff by the end of this year as investors try to capture all their profits, since Obama stated he would not be extending the Bush tax cuts.. This will cause the market to decline, in turn making mortgage rates better.. But unless your loan is already submitted and in the waiting, you will miss this brief opportunity to capture the lowest rates of the year.. if you're looking to purchase a new home, the busiest time of the year is in the spring.. Trying to purchase a home during those times are tough, because you'll experience the greatest amount of competition with other buyers.. so your still better off trying to find a home now when there's less competition and depending on when you find a home, you might be able to capitalize on the low rates for this year's end.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

NOW. Unlike other industries that have model close-outs, or discontinued items that are sold at a discount, the driver of interest rates is not seasonal. Because demand is relatively low, so are rates. Now is the best time. Wait until spring and you could pay more. In fact it is likely you will pay more. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Rates are like gas prices. Nobody really knows where they will be in future. There is a general trend right now for them bottoming out and heading up in the next few months.

No. Now is a great time. Rates are low!

FHA premiums are rumored to be going up the near future linda linda

No there are not. Mortgage rates are strictly driven by wall street and it's perception of how the economy is.

There can be minor differences but typically they are not based on the time of year, what is going on with the financial markets is really what drives rates. As others have said, the best time is when you are ready - now!? Just like the stock market it is nearly impossible to "time" rates, you won't know when we have hit the bottom for rates until we are looking back and saying that was "it". Rates continue to be at historic lows. Waiting beyond when you are ready could mean home prices increase and even a slightly lower rate won't make up for the increase. Generally the difference is $10-25/mo difference in your payment which is roughly the difference for borrowing $2000-5000 more. No time like the present, it may be easier to "time" the sales market for homes in your area (buy off season) than to figure out when interest rates will be at their absolute lowest.

William's answer is spot on!

Williams is Correct!! Do it Now!!