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 demoac
Joined: 09 Dec 2005
Posts: 16
Location: California
1.35 Dollars($)
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 Posted: Thu Dec 22, 2005 2:14 am Post subject: Rate going down |
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rates finally seems to be going down so can we think of making investment in homebuying.
Need few disussions to make myself clear.
Thanks in advance |
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Zeal_Deal
Guest
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| Posted: Thu Dec 22, 2005 2:29 am Post subject: |
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it will not be a great move to invest in home buying at this point of time because rates have raised a bit and according to experts it will continue rising. although rates for 30 year mortgage remained unchanged.
Zeal_Deal |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Thu Dec 22, 2005 3:12 am Post subject: RE: |
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Hi Demoac,
Welcome to MortgageFit Forums.
I think Zeal_Deal is talking about the market trend of last week. Rates have dropped this week for both Adjustable rate (ARM) and Fixed rate mortgages (FRM).
So I think that this will be the most appropriate time to invest in home buying. And consider your financial situation and credit status before you choose FRM or an ARM. Also shop around till you get a cost effective loan package.
God Bless You.
Thanks,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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demoac
Joined: 09 Dec 2005
Posts: 16
Location: California
1.35 Dollars($)
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| Posted: Tue Jan 03, 2006 3:38 am Post subject: RE |
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Hi, Samantha
What would be your comment on the rates for this and upcomming weeks.
Demoac |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Tue Jan 03, 2006 4:03 am Post subject: RE: |
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Hi Demoac,
As far as this week's interest rates are concerned, both 30 year and 15 year fixed rate mortgages seemed to have dropped down a bit. 5/1 ARM seems to have reduced by only 0.03% but the 5/1 jumbo ARM has maintained its previous rate, that is, 5.46%. As per my intuition, rates will further drop for the next 35 to 45 days.
God Bless You.
Samantha.
_________________
Know how to compare lenders with mortgage booklet |
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demoac
Joined: 09 Dec 2005
Posts: 16
Location: California
1.35 Dollars($)
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| Posted: Sat Jan 21, 2006 3:13 am Post subject: RE |
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Hi,
I am here again on with some doubts. How do see the rates this whole month guys (esp samantha).
Thanks |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Sat Jan 21, 2006 3:31 am Post subject: RE: |
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Hi Demoac,
It has been a downward trend of rates this month. Rates for some major mortgages have gone down like for 30 year fixed mortgage rates have gone down 5.64% than that of last weeks 5.67%, for 15 year fixed rate mortgage rates have come down to 5.20% than that of last weeks 5.24%.
Overall the rates have been on a declining slope.
God Bless You.
Thanks,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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demoac
Joined: 09 Dec 2005
Posts: 16
Location: California
1.35 Dollars($)
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| Posted: Thu Feb 02, 2006 2:16 am Post subject: RE |
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HI,
Do you think that the rates will rise again or its time for a downturn ??
Demoac |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Thu Feb 02, 2006 3:40 am Post subject: RE: |
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Hi Demoac,
As of now the benchmark 30 year rates have increased to 5.76% from 5.64%. Even the 15 year fixed rate mortgages have recorded 5.35%, compared to 5.22% as prevailing in last week. The 5/1 year ARM has also increased from 5.21% to 5.29%.
Rates are actually expected to rise but not within the next 30 to 45 days.
Thanks.
For MortgageFit,
Samantha.
_________________
Know how to compare lenders with mortgage booklet |
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monkie
Joined: 02 Feb 2006
Posts: 2
0.10 Dollars($)
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| Posted: Thu Feb 02, 2006 8:03 pm Post subject: |
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| thanks for the great information. I think my lender is trying to pull the wool over my eyes. With credit scores at 795, 798 and 813, I should be getting a better rate than 6.375% for 30 yr fixed. I would prefer a 5 or 7yr ARM but she said those rates are higher than the 30 yr fixed. is there somewhere i cn view the benchmark rates? |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Thu Feb 02, 2006 9:05 pm Post subject: RE: |
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Hi,
I agree with you. You have very good credit score, so you deserve some of the best rates. In order to get a comparison of the benchmark rates on different mortgages, go through http://www.mbaa.org/briefs/02/0719a.html
In case of any other query, please feel free to contact us.
God Bless You.
Thanks.
For MortgageFit,
Samantha.
_________________
Know how to compare lenders with mortgage booklet |
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monkie
Joined: 02 Feb 2006
Posts: 2
0.10 Dollars($)
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| Posted: Sun Feb 05, 2006 10:21 pm Post subject: rates going down |
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| Hi Samantha. WHat exactly is a benchmark rate? |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Sun Feb 05, 2006 10:43 pm Post subject: RE: |
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Hi,
Benchmark interest rate is the minimum interest rate that a investor will charge for investing in a non-treasury security. It is also known as base interest rate.
God Bless You,
Thanks,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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michelle
Guest
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| Posted: Mon Feb 06, 2006 2:03 pm Post subject: rates going down |
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| Hi Samantha. What are the benchmark rates for today? |
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Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
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| Posted: Mon Feb 06, 2006 2:47 pm Post subject: |
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Hi Michelle,
Welcome to MortgageFit Forums.
Today the benchmark rate for 30-year fixed rate mortgage stands at 6.28% and for 15-year fixed rate mortgage it is 5.87%.
The rate is 5.89% for 5/1 adjustable rate mortgage.
God bless you.
For MortgageFit,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
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