Mortgage Rates (up or down)

Discussion in 'Politics & Religion' started by nyc-hotshot, Aug 22, 2003.

  1. Damn, I am in contract on a new house and I'm pissed because these rates are screwing me. When I started the process the rates were like 5.38 no they're 6.38. This is all within a month.

    I could lock anytime. I'm just wondering on your opinions in the short term. Do you thinnk the rates are going to back off a little (go down) or keep surging up?

    Remember I 'm asking your short term opinion (next month or 2), it seems fairly obvious they are going up in the long term.

  2. Same thing happened to me but only in reverse fortunately....but you should feel glad...I have a 6.25 and a year and a half ago i didn't think it was possible to get lower...My first house was at 9.5% and i refin. to 7.1 in the 90' s and thought that was awesome!!! all with no points...but pay attention to the bond market not what the fed is feeding us