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creditandmortgageindex · Joined: 01 Feb 2006 Posts: 10 0.61 Dollars($)

hi,
i was planning to buy a house around the summer..... could someone tell me the expected loan rates around that time

adonis · Posted: Tue Jun 06, 2006 8:19 am Post subject: RE

Hi, you can expect it to be higher than what it is now. What type of loan you are looking forward to.

Samantha · Posted: Tue Jun 06, 2006 9:46 am Post subject:

Hi,

Welcome to MortgageFit Forums.

The way it's going I don't think there will be any downward trend for the rates in the near future and you can expect to pay higher rates in the future. At least the present prediction says so.

As rates are increasing frequently, you need to plan well and may have to settle for a less valuable house in the future than what you will be able to afford today. Check the current trend for the past two/three weeks and you can get an idea on where it will be.

God bless you.

For MortgageFit,
Samantha

blue · Posted: Tue Jun 06, 2006 9:53 am Post subject:

Hi,

I don't know where it's heading towards Rolling Eyes

but the trend is not raising any hopes for us. Not at least now if I am expecting lower rates.

If I am planning it today and getting it delayed by a month I think I may face 0.25% higher rates than the present rates.

creditandmortgageindex · Joined: 01 Feb 2006 Posts: 10 0.61 Dollars($)

hmm approximately .25% higher each month... i am a student and wanted a loan for a car. i'm saving for a good sized down payment, and that's what
s worrying me. if i am too late, then the interest rates might bog me down real bad.

jameshogg · Posted: Tue Jun 06, 2006 4:00 pm Post subject:

Hi,

With the Federal Reserve Board pushing the short-term interest rates, the rates for home equity lines, car loans and credit cards are going to rise.

So you may face higher rates tomorrow but a sizeable down payment is obviously going to help you lower you rates within the available terms. Keep a track on the trend and do some shopping now to get a fair idea on when to go for the purchase.

Good Luck for the New Car.

creditandmortgageindex · Joined: 01 Feb 2006 Posts: 10 0.61 Dollars($)

this helps. thank you once again. i will probably now do some math, and see how big a down payment will do good Smile

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