What are mortgage rates averaging right now (for a fixed rate home loan) and what is the projected rate change (up or down) for the next 6 months?

Asked by Gerald Morgan, Mexico, MO Tue Apr 9, 2013

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Ted Webber, Agent, Columbia, MO
Wed Apr 10, 2013
There is no such thing as an 'average' interest rate. It depends on many factors: credit rating, down payment, length of loan, type of loan, location.etc. Your best bet is to talk with a licensed mortgage lender. Call or zip us a note and we will give you some local lenders that our clients have had good luck with.
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Gregorio Den…, , San Diego, CA
Tue Apr 9, 2013
Avoid anyone who quotes you an interest rate without:

A) Being licensed to do so
B) Having any pertinent information about your specific scenario with which to rely upon
C) Quoting a corresponding APR in compliance with TILA

People that do any or all of the above are violating the law as well as wasting your time.
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Trisha Lee, Agent, Columbia, MO
Tue Apr 9, 2013
Gerald -
Interest rates are an ever moving target and are dependent on your credit scores and income to debt ratio. Quoting any rate would depend on these factors and no one can forsee what the feds will do in the next 6 months. However, we all know these artificially low rates can't last forever so if you're thinking about doing something, sooner will probably be better than later. Your best bet would be to get with a lender, get prequalified for a loan (and rate) and see if that's going to work with your budget. It certainly would make it easier to make decisions if you knew what your monthly payment would be. Hope this helps and would be happy to give more information if you want to give me a call, text or email.
Trisha Lee
REMAX Boone Realty
(573) 999-1000 or (573) 876-2897
Columbia, MO
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Nancy Hollid…, Agent, Columbia, MO
Tue Apr 9, 2013
Today it is 3.2575 for an FHA loan and 3.75 for a 30 year fixed rate. They are increasing, so now would be a great time to buy, both becausse of the interest rates and also because this is the time when there are the most houses on the market. I'd love to talk to you further about how I can help you. I specialize in first-time homebuyers.
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Dave Denton, Agent, Columbia, MO
Tue Apr 9, 2013
Rates are still in the 3's for a 30-year, fixed-rate loan. Although there are daily variations, the overall trend is upward. It would be best to establish a relationship with a lender followed by a REALTOR. These are no cost to you and you need good solid information to make serious decisions on.
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