Mortgage rates

Jettin' Fool · 08-14-2003, 08:50 PM

Any mortgage guys out there?? I'm in the process of building a home and wont be able to lock in till about November. The rates have gone up over a point in the last 6 weeks. They dropped a little last week but nothing like it was.
My question is how do you see the rates by Nov. or December?? I hope they drop again or my new home may be for sale in January :shocked:

Jfool

RogueFishr · 08-14-2003, 08:55 PM

they're going to drop again. You will be fine.

RF

fishisabonus · 08-15-2003, 06:21 PM

They may or may not drop. Didn't you get a locked loan while building? Right now the market is trying to stablize. No one, unless you have a crystal ball, can know what the market will be like in November. It takes forever for the rates to impove a only a few hours for them to go the other way.

Good luck to you. Hope you have your roof and windows in before the rains hit!

TundraIII · 08-18-2003, 07:10 AM

I got lucky and locked at 5.5 last month. The reports from my Mortgage Co. and what I've seen on the news reports suggest that the rates will stabablize or slightly increase and that these historic lows may not be back for some time, if at all.