Will Rates Go Up or Down?

20 Oct
2008

Filed Under Buying · Tagged: Financing · Print This Article

The number one question today: What is the current Mortgage Rate? So many people have no idea, that since the melt-down began, roughly Sept 15th, mortgage rates have been changing about every 3 hours during the trading day! When to lock? It”s like that pop-a-shot game you can play at a place like espn zone, where you throw a basketball into a moving hoop, it gets closer and further, randomly.
Bankrate.com does a weekly survey asking lenders across the country to predict if rates will increase, decrease or remain unchanged. Here you have the long and the short of it. Looks like over 73% of lenders think rates will either stay the same (which they are still below the last 20 year average of 9.22) or decrease! Keep shooting the ball kids! It is truly an amazing time to be in the market to buy a house! Rates are great!