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If the feds cut rates again on Wed., how low do you think 30-year fixed rates will go?

I know a 30-year fixed mortgage isn’t tied directly to the rates the feds will probably cut, but it should have some indirect impact. I’m currently at a 6% fixed rate and refinancing in the next 30 days. Todays rates for my particular loan are 5.875%, up from 5.75% yesterday. I haven’t locked anything in because I think they’re going to drop again. When would you pull the trigger and lock it in?

3 Thoughts on How Low Will Mortgage Rates Go?
  1. Reply
    February 7, 2014 at 1:39 am

    Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every monthcompanies offer different interest rates so it is a good idea to shop around for the best deal before settling on one particular lender.

  2. Reply
    Ryan M
    February 7, 2014 at 1:41 am

    Jayla has absolutely no clue.

    Things don’t look too good for you. The best time to lock in was last week wednesday.
    I think rates will be going up in the next few weeks and actually stabilizing around the same level where you are at.
    I wouldn’t refinance if I was you. You need to save at least .75% in order for it to be worth your while. Otherwise you are just throwing money away.
    Rates will not be dropping anytime soon. They already are low. Anything less then 6% on a 30yr loan is LOW. but you are already at 6% so it isn’t worth your while to refinance.
    look at the math, you would be just throwing money away.

  3. Reply
    February 7, 2014 at 1:45 am

    Wait until the 30th January when the Feds have their next meeting, it is very possible that they will drop the rates again.

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