Answers

SO, can anyone give some GOOD insight on the big mortgage rate drop?!?

There is talk about another 1/2 point cut next week. Based on what happenned this week, I don't see how we won't hit a rate in the FOURS for a 30 year FIXED in the next few months. Your thoughts? Oh, and PLEASE no mortgage spammers or delusional Carter 1970's throwbacks. :)

Best Answer:

Oh its headed below 5% by two weeks...watch...

Answers:

~*Yesterdays Promises*~ - 2008-01-23 10:15:17
I'm closing on a house on Friday. Our bank lady called me today to tell me she locked our rate in at 5.75, I think it might upset me a bit if it drops down to a 4, but go figure that is how it would happen! LOL!

HM 10 - 2008-01-23 10:18:15
A temporary blip to fight a lossing battle - don't spend it all at once

dyingcells - 2008-01-23 10:20:45
It is quite possible but Bernake, like Greenspan, will go slow after the 3/4 cut just applied. These things take time to show their full effects and sometimes rumors work well enough to tweak the market. This is a great time to buy and the best example of why it is important to have a savings and good credit. The opportunities for investment property or just to upgrade your own property to a home that will increase in value when the current slump ends and it will end despite what the media harp about. It is all part of the economic cycle that allow those who are prepared to make $$.