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.

    Thanks:D
     
  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