Is it true? mortgage rates may fall a bit more to catch up with the Feds cuts?
by Mortgage Rates on Monday, September 27th, 2010 | 6 Comments
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I sure hope so but I doubt it. Check out this article I read this morning: http://www.latimes.com/business/printedition/la-fi-mortgage19mar19,0,6645986.story
Seems to answer your question directly.
I wish, I’ll refinance my mortgage.
I would say probably “not” . Take in concideration that our lending co’s are in trouble..even when the feds lower the rate its for the lenders to re-coup some of their losses on bad debts. So the rate cut helps put $ back into the lenders hands first and formost ..most lenders are at such a loss that any savings CANNOT BE PASSED ON TO THE CONSUMER yet!
the fed rate cuts have a direct tie to SHORT TERM interest rates, like consumer debt (credit cards) . mortgage rates are tied to the BOND market. so the short answer is NO
No, it is simple supply and demand. The spreads on mortgage backed securities have widened which will cause rates to increase. You can secure a 5.5% 30 Year right now, it just depends on the day and time that you lock. If you are thinking of refinancing and want a rate below 6%, I would suggest locking something in now.
Rates have been changing frequently, but the overall trend recently has been upward.