Does anyone know if the Mortgage rates wil go down any more in the next month and 1/2?

Answer 1

Oh crystal ball, Oh crystal ball, tell me. Depends on the fed, the rate of unemployment, the price of gas.

If there is a house out there and it has dropped in price, you should buy it now. If interest rates drop drastically later you can always refinance, but if the price of the house goes down or up, well there you are.

Depends also how long it has been on the market. Make them an offer they can't refuse.

Answer 2

Interest rates are relatively modest in comparison to the times in the early eighties and early nineties when they got into double figures. The relatively modest rises here in the UK recently have had a big effect on people because many have stretched themselves to the limit to afford the high house prices. I think there will be a period of constant interest rates while house price inflation cools off. This is just a guess based on past experience. Hopefully house prices will not increase too much more. A house is only worth what someone will pay for it!!

The interest rate is in the hands of the Board of the Bank of England (in the UK) and they ain't telling.

Answer 3

Another drop is not being predicted right now, most mortgage brokers feel that the rates will remain pretty stable for the next 6 months or so. But no-one has that crystal ball!

Answer 4

There are only indicators and best guesses ultimately no one can tell you this and if they say they can they are full of crap.

Now the fact that oil is almost to $100 a barrel is an "indicator" that rates MAY come down. Again, no one knows for sure it can only be based on various indicators from the past.

The various markets are too fluid and move too fast these days for anyone to make a true prediction.

Have you asked Ms. Cleo? lol!

Answer 5

No. And if someone tells you they do know, they're not being honest with you.