2006-07-13 10:33:27 · 5 answers · asked by GetDownWitIt 1 in Business & Finance ➔ Renting & Real Estate
Hi xblissx,
Short answer: Up
Long and very windy answer:
30 year fixed rate mortgage rates are not tied to prime per say. You want to watch the 10 year t-bond yield. When the yield goes up, the rates on conforming home loans are usually quick to follow, lock-step
HELOC's or Home Equity Lines of Credit are typically tied to Prime
This is the closest anyone has to a crystal ball to determine where the rates are going, other than doing long term statical analysis.
Prime rate and the 30 are tied somewhat. If you do a fifty year trend you will see somewhat of a correlation, but it's not conclusive.
One Truly has to look at the major seven market indices to get a clear picture.
CPI,GDP, etc.
All shows: UP
2006-07-13 11:14:30 · answer #1 · answered by ~Trey 3 · 2⤊ 0⤋
They will absolutely rise, and rapidly. The Federal Reserve will probably raise interest rates at least one if not two more times this year. If you need a loan, lock in the rate now.
2006-07-13 10:37:15 · answer #2 · answered by cyclist 3 · 0⤊ 0⤋
Up, without a doubt.
The Fed is more afraid of inflation than a 4 year old is of the boogie man.
Get a fixed rate while they're still low.
2006-07-13 10:39:07 · answer #3 · answered by C B 6 · 0⤊ 0⤋
With oil still heading up, war pending in the middle east and North Korea firing missles off every other day....
UP
2006-07-13 10:37:22 · answer #4 · answered by Sir J 7 · 0⤊ 0⤋
They are going up.
2006-07-13 10:36:32 · answer #5 · answered by erin7 7 · 0⤊ 0⤋