How low can mortgage rates go?

Posted on Oct 22, 2012 in FHA Information

Some cool condominium images:

Terrace Row Condominiums
Image by davereid2
Terrace Row Condominiums Construction Nears Completion

If you would like to see a lot more homes click right here…

Apparently a New Condominium Community on the East Side of Utah Valley
Image by bterrycompton
Apparently a New Condominium Community on the East Side of Utah Valley. The blue color of every little thing is determined by it becoming dusk.

For a lot more houses click right here…

loan refinance programs
by senatorchriscoons

Question by Matthew: Are there any loan programs out there that would allow me to refinance my home at today’s present market value?
Hello, medications

I have a question for anyone out there that may be able to shine some light on our situation. My wife and I live in Rhode Island and are in the process of expanding our family. We recently had a baby boy and will soon attempt for child number two. Everything in our lives seems to be going as planned with the exception of our current housing situation. We currently live in a two bedroom 1000 Sq. ft. condo and we are busting at the seams. It is time to start looking for a larger home but we like many owe more than the home is worth. Probably about 50K plus upside down.

We both have strong income and good credit so purchasing and affording a new home is not the issue, illness it’s what to do with our current situation. I feel very stuck. Ideally I would like to rent the condo and hold onto it as a future investment, link but being so upside down makes that thought less and less appealing. And selling it would have to result in a short sale and I’m pretty positive that negatively affects your credit.

So my long and winded questions are:
1.Are there any loan programs out there that would allow me to refinance my current home at today’s present market value? The reason I ask is because I vaguely heard about such a program.

2.What do you recommend about getting out of my home and into a new one without destroying my credit in the meantime?

3.Is there another option that exist that would be a good fit for my situation

Thank you all for your help on this.

Best answer:

Answer by Common Sense
No one will allow you to refi while you’re upside down. No way.
A short sale, by the way, is only one baby step above a foreclosure. It destroys credit.
Just rent the damn thing.

Give your answer to this question below!
Question by Manny: Is It Possible To Get A Stated Equity Loan With A Co-Signer?
I am self-employed and own my home free and clear. My credit is pretty good but I have no income verification to provide. I realize stated loans are pretty rare these days. My Mother has a credit rating of about 770-780 and has offered to co-sign on a $ 50, salve 000 equity loan for me. I bought my house a little over a year ago for $ 168, look 000. Is this possible and if so, information pills can anyone recommend a bank to work with?

Best answer:

Answer by Whats Up Doc
Yes it is. Try Suntrust or Bank of America.

What do you think? Answer below!
Question by morris: How low can mortgage rates go?
Mortgage rates went back down the 5.5 range this past week. It seems this is a good rate at this time, ailment but really no better than it was about a year ago. Given the economy, I’m hoping they finally decide a viable fix would be to really lower the mortgage rates substantially so that those who have been financially responsible can buy into the market. Realistically, what would the lowest the mortgage rates could get? Thanks!

Best answer:

Answer by I Buy And Sell Houses
It’s anyone’s guess.

But historically 5.5% is very low.

Considering the financial crisis, credit collapse, recession, impending deflation, etc., I’d say the lowest forseeable rate might be about 4%. I’m not saying it’ll get that low (it might, it might not), but that in theory it probably could.

If you want to buy and if you’re qualified to buy now, then buy now. Again, rates are very, very good. And there are a lot of bargains out there.

Hope that helps.

Give your answer to this question below!

4avg.rating 11 votes.


  1. I think this is pretty close to the bottom. They way they are spending and giving away money, rates will have to go up over the next few years to attract international money.

    If anyone is looking to buy, I’d get going.

  2. I think when rates are in the 5% it’s pretty low. I don’t think they will go that much lower.