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3.75% 30 year fixed.. with no points or fees... how low can we go?
2011 Dec 15, 2:12am 8,398 views 15 comments
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1
StoutFiles
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2011 Dec 15, 2:47am
Not much lower. Which is why we'll be sitting on this rate for a while. Rates could rise, but house prices would take a big fall. Too many homes in the shadow inventory for the banks to take a hit there.
2
FortWayne
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2011 Dec 15, 2:55am
FortWayne
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2011 Dec 15, 2:55am
As long as HAMP is paying mortgages for underwater owners nothing will change. Change only happens when doing nothing hurts more.
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How low can mortgage rates go for 30 year fixed? Just a few years ago a 3.75% rate would have been low for a 15 year fixed mortgage!!
If inflation rose to say 5-6% a year... Wouldn't locking in a 30 year fixed at that low of rate be like free money?
(assuming you can keep your job and have enough to pay for other inflated expenses).
#housing