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DiamondEye

Given the upcoming Fed cuts, when will mortgage rates bottom out?

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FWIW, some institutional investor types I saw interviewed today noted that mortgage rates are unlikely to fall commensurate with the fed rate as the margins for lenders viz. the risk of lending may be pushed to low.

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15 hours ago, hdporter said:

Wait out the September Fed decision and then get your app in to refi and drop your PMI.  Be advised, that as in any other period where rates have dropped, there's a good line forming up and you're looking at a possible 30-60 day period to close.  It may be worth paying up around 1/8% to lock your rate for 60-days.  (Your call.)

 

If rates drop by 1%+ over the next 6 mo, re-investigate whether it's worthwhile to look at a refinance.  But in the interim, be satisfied that you acted in time to avoid a possible 1% hike in rates.

This.  Thank you.

 

PS - I wasn't arguing, but it's very difficult to get a straight answer here.

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4 hours ago, DiamondEye said:

This.  Thank you.

 

PS - I wasn't arguing, but it's very difficult to get a straight answer here.

 

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16 hours ago, DiamondEye said:

This.  Thank you.

 

PS - I wasn't arguing, but it's very difficult to get a straight answer here.

LOL! You want a black and white answer to something that is murkier than a Louisiana swamp bottom.  When you didn't get what you wanted, you began challenging everyone, essentially wanting to question why they couldn't wrap up the air being grasped for. 

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On 8/28/2019 at 5:11 PM, DiamondEye said:

This.  Thank you.

 

PS - I wasn't arguing, but it's very difficult to get a straight answer here.

I was just f-ing with you.

 

The answer if 47 days.

Edited by cv91915

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Probably already missed the bottom. I am currently reading my mortgage to a 25 year at 2.875%. The rates today are at 3.25% for the same loan. If they go back down I doubt they go much lower than they were.

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Nope and still higher than last week.

My previous post should say refi to a 15 year but the fact remains. Rates are higher this week and appear to be holding steady. Will see more tomorrow.

Op have you locked in yet?

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