Financing in 10589>Question Details

Stephen Herm…, Real Estate Pro in Carmel, IN

Will we ever see mortgage interest rates in the 4% range again?

Asked by Stephen Herman, Carmel, IN Fri Feb 18, 2011

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Stephen I thought rates were going to dip back down this month from the 4.75 - 4.875% they were in January, instead they went up to about 5% - 5.25%, so I wish I had that Crystal Ball to answer your question. I don't think it's possible unless anarchy is rampant in the Mediterranean or other part of the world. Or another European debt crisis.
1 vote Thank Flag Link Sat Feb 19, 2011
Steve - mortgage rates change daily much like the stock market! No one has a crystal ball but a true professional should be able to protect your interest, keep you informed and LOCK IN the best rate for you. I recommend speaking to a few loan officers - I can recommend DENISE AVERSA with Hudson United 914-703-1023. She would put it in her calendar to give you a call when they hit 4%!! If this has something to do with a purchase I/o refinance - call me! I'd like to know about the big goal trying to be achieved and there may be more ways I can help! Susan 914 438 - 4847
0 votes Thank Flag Link Tue Feb 4, 2014
Interesting your question was asked 2 years ago and current rates are below 4%. Who would have thought this was possible? It looks like the home prices are starting to go up before the mortgage rates.

Don Mituzas
Licensed Associate Broker
Douglas Elliman Real Estate
0 votes Thank Flag Link Sat Mar 23, 2013
From my mortgage broker, Austin Stellato dated 9/25/12.

Hi All, Wells Fargo has lowered rates across the board! Remember all rate locks are good for 90 days!

30 yr fixed Conventional....3.25%
30 yr fixed High Balance....3.625%
30 yr FHA fixed....................3.125%
30 yr fixed Jumbo..............3.625%
15 yr fixed............................2.5%

5/1 Arm........................2.125%

All rates subject to change without prior notice. Intended for Real Estate professionals only. Purchase money only.

Austin J. Stellato
Home Mortgage Consultant
NMLSR ID 653867
Thoroughbred Mortgage, LLC | 703 E Main St | Jefferson Valley, NY 10535
MAC J0541-040
Phone (914)249-7624
Fax (866)512-8947
Cell (914)906-2840

If I can be of further assistance, please feel free to contact me.
Donna O'Connell
0 votes Thank Flag Link Wed Sep 26, 2012
There are some creative loans that border the 4% range like a fixed 10 year ARM.
0 votes Thank Flag Link Thu Mar 3, 2011
Nobody knows, but with Fannie and Freddie bringing in risk based pricing, an improving economy (at least in the eyes on many pundits) and the possibility the the GSEs will be dissolved over the next 5 - 7 years, I would bet on higher rates. The more important thing to do is move beyond rate myopia and accept the rates that we have in the current market. Currently many people from buyers to industry professionals are busy lamenting the current rate level, which is still well below historical averages. My advice is to flip your question around and ask when we will see 6%, 7%, etc. Anyone thinking in terms of rate decreases runs the serious risk of clouding their decision making regarding whether of not to lock now in fear that they may miss out on 0.125% lower. In the end, they could see 0.25% or more increase instread.
Web Reference:
0 votes Thank Flag Link Mon Feb 21, 2011
15 year is close to four percent now but I think you meant average 30 year fixed. My opinion is that there will be another QE at some point and that the fed will buy more Mortgage Backed securities. if that happens, you will see rates test the last lows. This spring market, year over year, is going to be pretty ugly especially since there will be no tax credit.
0 votes Thank Flag Link Sat Feb 19, 2011

We are near historic lows. Seems like rates are bouncing along the bottom.
0 votes Thank Flag Link Sat Feb 19, 2011
Sure we will. The only question is: How old will we be, by then, and will we still be in the business?
0 votes Thank Flag Link Sat Feb 19, 2011
Alan May, Real Estate Pro in Evanston, IL
HI Stephen, We believe they will go in the 4% range again however not til late April of 2011 then that will only last a couple of weeks, it will rise after that and remain in the mid to high 5's until end of year possibly.

Since we've been in real estate about 20yrs now we've seen it happen like this for the most part unless the employment or housing market was booming then it took a couple of years to see the 4's again.

All the Best

Dave & Lisa
Web Reference:
0 votes Thank Flag Link Fri Feb 18, 2011
Hi, it really will depend on the economy. Rates go up when the economy improves, such as the unemployment rate. Its all yes I do believe we will.

0 votes Thank Flag Link Fri Feb 18, 2011
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