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

[hegemony]

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.

[DiamondEye]

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.

[hegemony]

4 hours ago, DiamondEye said:

This.  Thank you.

 

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

 

[centex]

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. 

[hegemony]

meanwhile... This was the worst week for mortgage rates in 3 years – and it may be just the beginning

[CTSoxFan]

1 hour ago, hegemony said:

meanwhile... This was the worst week for mortgage rates in 3 years – and it may be just the beginning

I just read that article...and as someone who will be getting a mortgage in the next couple of months, I am hoping for the continued slide case discussed

[cv91915]

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 September 13, 2019 by cv91915

[cv91915]

Realtor.com chief economist Danielle Hale doesn't know either.

 

https://www.realtor.com/videos/video-what-is-the-deal-with-interest-rates-our-economist-explains/9aa576ca-3ed5-4205-97d2-26325471314d 

[tiggerlgh]

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.

[hegemony]

mortgages rates go to zero today? :lol:

[tiggerlgh]

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?

[cv91915]

I may be the only nerd on CB who follows Mike Fratantoni, but he always has useful insights into the health and direction of the mortgage industry.

 

https://www.mba.org/assets/Documents/Research/Forecast Commentary Aug 2019.pdf 

 

[hegemony]

On 8/28/2019 at 3:11 PM, DiamondEye said:

This.  Thank you.

 

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

Mortgage rates drop once again — sparking more interest in loan refinancing

[cv91915]

8 hours ago, hegemony said:

Mortgage rates drop once again — sparking more interest in loan refinancing

What is that crazy Fed up to now?

 

 

Edited October 12, 2019 by cv91915

[hegemony]

Mortgage rates increase again — even though the Fed just cut interest rates

[CTSoxFan]

20 hours ago, hegemony said:

Mortgage rates increase again — even though the Fed just cut interest rates

Hege - This just links back to the thread...

[hegemony]

2 hours ago, CTSoxFan said:

Hege - This just links back to the thread...

whoops thanks for letting me know

 

Mortgage rates increase again — even though the Fed just cut interest rates

[cv91915]

16 hours ago, hegemony said:

Mortgage rates increase again — even though the Fed just cut interest rates

[hegemony]

OP, how'd the refi go???

[hdporter]

I’ll suggest any mortgage close in 4q 2019 scored a sweet spot.  (On our list of things to be thankful for this year ...)

[hegemony]

On 8/21/2019 at 3:58 PM, DiamondEye said:

I'm definitely going to refi out of my mortgage which has PMI now that I have the equity.  I currently have 3.99% 30yr but I want to refi to both lower the rate and get rid of the PMI.  Pretty sure another 25 basis point reduction in September but I have also heard there will be several more cuts all the way up to April 2020.  I'm trying to determine when the mortgage rates are likely to bottom out, so I can jump at that time.  When do you all think they will bottom out, and how long after a rate cut announcement before they reflect in the commensurately lowered mortgage rates?

did you lock too soon???? Mortgage rates plunge to second lowest level in three years amid coronavirus concerns

[hegemony]

perhaps more death and despair to help with your refi?

 

Coronavirus fears cause mortgage rates to plunge to 8-year low

[hegemony]

Mortgage rates were already at record lows. Now they could go even lower

[Zanshiro]

Yeah, they get in the low 2s and I'll re-refi, and roll everything in for one simple payment.  Golden times.  

[aroberson]

lets see if they fall into the 2s, not worth for me to pay closing costs with my current rate of 3.61% APR