ChrisT Posted June 25, 2003 Posted June 25, 2003 Are they going up or down? What's your take? Seem to recall there are a few mortgage brokers on this board. Quote
catbirdseat Posted June 25, 2003 Posted June 25, 2003 The prime rate went down a quarter point today. Quote
ChrisT Posted June 25, 2003 Author Posted June 25, 2003 well I know that already but what I'm wondering is will mortgage interest rates go down lower than 5%? In Japan the rate reached 0% at one point. trask you got an opinion on this? Quote
Peter_Puget Posted June 25, 2003 Posted June 25, 2003 My guess is rising comoditiy prices and easing on the dollar will cause inflationary pressures down the road which will stop the fall of interest rates. Quote
catbirdseat Posted June 25, 2003 Posted June 25, 2003 The mistake that Japan made was lowering rates too gradually. Now they can't lower them anymore. The Fed figured that with the tax cuts, they wouldn't have to go to a half point to get the economy turned around. Hope they are right. Quote
Peter_Puget Posted June 25, 2003 Posted June 25, 2003 CBS - Â I say examine the money supply! Â PP Quote
b-rock Posted June 25, 2003 Posted June 25, 2003 i've been meeting with a broker lately, she was guessing that they'll drop to 5 but not below. got pre-approved for some silly sum of money as of yesterday. Quote
To_The_Top Posted June 26, 2003 Posted June 26, 2003 I work for a mortgage company ( not a broker) and the talk is that they will be level or going up. The market has already anticipated a drop of a quarter, so they are theoretically factored in. Mortgage brokers that post here are probably too busy to post anything right now. TTT Quote
David_Parker Posted June 26, 2003 Posted June 26, 2003 You should be able to re-fi for less than 5 right now. Prime dropped 1/4, but home loans may not because they are considered longer term. The fed is trying to head off deflation and spur consumer spending. It's keeping me busy too! If you need more advise, email me. Â David Parker Associate Broker Windermere Real Estate 206-842-5626 Quote
Dave_Schuldt Posted June 26, 2003 Posted June 26, 2003 This rate drop sucks for anyone with a savings account. Retired folks with CDs are hurting. I don't evan look at the rate on my CDs any more. Gone are the days of 5%+ Quote
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