3 Thoughts on explain interest rates for mortgages please?
  1. Reply
    February 12, 2014 at 3:40 am

    Condo rates are almost always higher on a rate sheet, credit plays a factor, what the loan to value of the home, mortgage rate sheets have overlays that you add or subtract from par. I hope you’re shopping around, that’s the best way to find the rate you want. I know because I’m a broker.

  2. Reply
    February 12, 2014 at 4:34 am

    Fixed rate loan rates are driven by the bond market. ARM rates are driven by the ARM loan’s individual index.

    Rates are actually still quite reasonable with a 30 year fixed at around 6.75% at par (no buy down on the rate) when you consider a 10 year rate history.

    When rates will go up or down is anybody’s guess and anyone who tells you they know for certain which way or when rates will move is full of it.

    We live in a global economy and events halfway around the world can have an immediate impact on interest rates.

    Quit worrying about the rate, if you are comfortable with the payment the rate is irrelevant.

  3. Reply
    Henry R
    February 12, 2014 at 4:36 am

    It all depends on alot of things. First off you need to take in consideration your credit, if its good then the next thing would be what type of condo is it low rise or high rise. Next how much are you putting down? All of this determines your rate. If you would like I can run you a goodfaith estimate and see what kind of a rate I could give you. The company I work for is Hayhurst Mortgage and we are a direct lender. My number is 3056720092 ask for Henry.

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