30 Year Fixed Mortgage Rates
Will rates on 30 year fixed rate Mortgages go up or down in the next two to four weeks? Your opinion please!!!?
Ready to buy a house soon, and unsure of best time to lock in rate.
Rates may be dropped soon by the fed. I doesn’t seem that they will be on any road to a decline. I say this because home values are dropping and mortgages also factor in the ability of the home to gain value. If the risk of losing value is high then the required capitalization, amount of interest, will need to increase in order to offset that risk.
The other factor you should consider is the homes value. You may pay more in interest if you wait a little bit, but you may be able to offset that by waiting for a lower home price. In my market, prices have dropped much faster than the rates have increased. Do some research on your most immediate market, neighborhood is best, I wouldn’t base any decisions on any area numbers larger than your city or town. While I live in AZ, one of the worst markets in the country right now, my town, Flagstaff, is better off of than most of the country.
Wait for the FEDs announcement then go for it.