if you can do 4.9 % rate dont hestiate. this rate has not been around for months and will not come back.
depending on how many points are you paying?

An,

If you get a chance, take a look at my blog "The Rules of Refinancing." I think it will address most of your concerns. And if I can be of service, let me know how.

Best of luck and keep me posted.

Rob

An, You might be interested in checking this out...http://mortgage-x.com/general/rate_trend.asp ...lot of interesting information. Also keep an eye here......http://www.fhfa.gov/

Dunes

An, if you've looked at the costs, you are saving money and you are satisified with your break even point, then go ahead. I know of several people that locked below 4.7 0/0 but, as you probably know, rates will differ. Compare compare compare, then do what's right for you.

This is straight from one of the mortgage brokers I use in an email today.

**Many of you have been hearing and are up against the argument "I am waiting and holding for 4.5%"...but here's one reason we may not get there. Yes, the Fed has been buying Mortgage Bonds, but if you look at what they are purchasing, they are buying a lot of FNMA 30-yr 5.5% and 5.0% Bonds, which won't have much of a positive effect on present rates.**

With rates at 4.9% this is 1.5% lower than what we had in a recently as in late 2008. The difference in payment on $250,000 is about $60.00. I am not sure of what you are doing buying or refinancing but in this economy I rely on "bird in hand".

Lock.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com

Obama has nothing to do with the rates. 4.9% is a very good rate, i would say dont get greedy. rates are bouncing around.

Lock it now, it's fantastic and we have no idea what the future will bring