Educated guesses about when the FHA 30yr fixed rate will drop and how much?
by marsmet526 Question by Brian: Educated guesses about when the FHA 30yr fixed rate will drop and how much? I’m a first time home buyer and I was just preapproved for an FHA loan with a 6.5% rate. Three months ago I was approved for a conventional loan at 6.25%. I’m just wondering when analysists are predicting rates to drop? Best answer: Answer by Natalianot soon the rates are going to go up for the next year unless the government lowers them again Add your own answer in the...
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Wells Fargo urges judge to reject New York suit over FHA loans Baruch argued that the only FHA claims that can be brought against Wells Fargo would involve individual loans on which underwriters knew they were falsely certifying that the mortgage qualified for FHA insurance. He said the New York suit instead … If you would like more informaiton please visit here… Mortgage Rates: Low Mortgage Rates Remain Intact Despite Flood of Positive … Today's FHA 30 year fixed mortgage rates are as low as 2.750%, approved generic FHA 15 year fixed mortgage interest rates are as low as 2.250% and FHA 5/1 ARM loan rates are as low as 2.250%. FHA mortgages offers several options and benefits to homeowners. If you would like more informaiton please visit here… by eyewashdesign: A. Golden Question by dasielady: How will the Fed’s rate cut affect my mortgage rate? I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, medical and a 5-year Balloon for 17% of the value, pharm and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender. I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %. If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down? What are your thoughts? Thanks! Best answer: Answer by Adam LMost likely it won’t. The Fed rate isn’t strongly correlated to mortgage rates. Mortgages are more strongly correlated to T-bill rates, such as the 1-year T-sec. These go up and down depending upon how much money the govt. lends and how many people want to buy our bonds. It’s determined more by China and Saudi Arabia than the fed. The reason for the strong correlation is that mortgages ‘compete’ with T-bills for money. Both are long-term, relatively safe places to earn some interest income. –>Adam Add your own answer in the comments! Question by EMPulse: When should I lock in my interest rate on a fixed 30-yr FHA mortgage? My wife and I are buying our first home through the FHA, viagra sale and we’ve been quoted a rate of 6.7%. However, sildenafil we have 60 days to lock it in, prescription and we just saw it fall to 6.375%. Should we go ahead and lock it in now at that new rate, or would it be best to wait and see if it falls any more? Best answer: Answer by 81 HondaI would if I were you, they are bound to go up. What do you think? Answer...
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