Financing in Clifton>Question Details

Nick, Home Buyer in Garfield, NJ

I believe that rescueing Freddie and Fannie will lower interest rates but how soon? 2, 3 months from now?

Asked by Nick, Garfield, NJ Mon Sep 8, 2008

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6
Nasser,
One month....1 percentage point......

If you have been waiting, find the perfect home and be ready.

Good luck,
The "Eckler Team"
0 votes Thank Flag Link Tue Sep 9, 2008
rates are low this week- you can bet if the stock market is down-the rates will be low.
i think you'lll see the stock market turn around first or second quarter of the new year...

Rates are good!!! BUY!
0 votes Thank Flag Link Tue Sep 9, 2008
Rates are down today and will continue to from this point to slightly lower the beginning of 2009. When spring time comes and sales start increasing you may see teh rates start to rise slightly, buy now while rates and prices are low.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Mon Sep 8, 2008
Rates have already dropped. A 30 year fixed rate mortgage is now going at 6% compared to 6.5% on Friday.
0 votes Thank Flag Link Mon Sep 8, 2008
According to one of the lenders I use all the time, the rates dropped TODAY!

Contact:

Millenium Home Mortgage, Bruce Conner
(908) 233-3383, ext. 5015 mailto:Bruce@MHMonthenet.com

Joan Prout, MBA
Broker Associate
RE/MAX Villa REALTORS
Jersey City, NJ
mailto:Joan@JoanProut.com
800-671-0596x1
Web Reference: http://www.JoanProut.com
0 votes Thank Flag Link Mon Sep 8, 2008
We are also hearing that the interest rates will drop slightly now that we have all bailed out the secondary mortgage market. However, I have no idea when it will happen. There are many other factors of course that affect the market and interest rates, so it is tough to predict. If we knew for sure, we could sit back and make a fortune on futures. Do call your most trusted mortgage provider and ask them to keep in touch with any changes in the mortgage rates.

The bail out of Fannie and Freddie has already has an effect on the stock market. That was pretty fast so maybe mortgage rates will fall sooner rather than later. Watch carefully.
0 votes Thank Flag Link Mon Sep 8, 2008
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