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Asked by Suz A, Longmont, CO Sat Jul 31, 2010

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Answers

13
Ron Rovtar, Agent, Boulder, CO
Sat Jul 31, 2010
BEST ANSWER
Hi Boulder SuZ:

When they were at five percent I thought we had definitely hit the bottom. Having been burned once, I'm not sure I'm ready to make any predictions. One thing is certain. These are great rates no matter what happens in the future!

Best,
Ron Rovtar
Prudential Real Estate of the Rockies
1 vote
The April Ne…, Agent, Loveland, CO
Mon Jun 4, 2012
Hello Suz,

I can promise one thing - they will go lower as soon as I refinance my house again! :)

It has been FABULOUS to see them be so low for such an extended amount of time. That has opened up a larger buyer pool right now and contributed to the increased activity in the local market this spring. I don't expect to see them go much lower, seems they have been bouncing back and forth between 3.75 - 4.25 for a while.

Best,
April Neuhaus
1 vote
Rates are within striking distance of 3.5! I would not be surprised to see them even lower. It's a great time to be a buyer.
Flag Thu Jun 14, 2012
Spirit Messi…, Agent, Tucson, AZ
Sun Aug 1, 2010
I agree with the other agent, no one can know for sure. Ever hear the saying you cant catch a falling knife? In reference to buying stocks and wanting to buy a stock at its absolute low. We are at historic lows now and the Fed has been buying down the rate, I thought they would be going back up by now. Personally, I don't think they can get much lower but I sincerely do not know either. As a Realtor, I talk with a lot of mortgage brokers. The rule of thumb for a refi is if you can save 1 pt interest rate and you will be living in the house at least another 2 yrs, it is worth it. Hope that helps. Personally, if i had clients that found a house they loved, I would not recommend waiting for a lower rate before putting in the offer cause you just dont know right now.
1 vote
Brian Burke, Agent, Highlands Ranch, CO
Sun Aug 1, 2010
No one can answer this question. Last year when rates were at about 5%, they said it would not go down and it did. I have no idea what they will do. All you can do a Realtor is do your best and not worry about the future. If they go down good. If they go up what can you do? I think they will stay about where they are. That is my guess.
Brian
http://www.highlandsranchexpert.com
1 vote
Dena Schlutz, Agent, Boulder, CO
Mon Jun 10, 2013
Interest rates are starting to rise and the unemployment numbers are getting better. Buyers are out in force to take advantage of the relatively affordable housing. I wish I had a crystal ball to see what it will look like in a year from now! The lingering threat of inflation is a the fire we are playing with. Who knows what will happen....?
0 votes
Josh Barnett, Agent, Carney, OK
Sat Jun 1, 2013
Money is cheaper than inflation, who knows whats going on?
0 votes
Manuel Brown, Agent, Chicago, IL
Sat Jun 1, 2013
The FED committed to keep interest rates low as long as the unemployment rate remains above six percent. So when the national unemployment rate hit the sixes rates will go up.
0 votes
Suz A, Agent, Longmont, CO
Sat Jun 1, 2013
||||||||||||||||||| UPDATE June 2013 |||||||||||||||||||||||||||||


Still under 4 percent! Low rates keep hanging around.

This is not something I would procrastinate on.

None of us have a crystal ball. I only know what I read online and they're not talking about keeping rates down. The economy is roaring to life. Low rates are not something that will last.
0 votes
Ron Rovtar, Agent, Boulder, CO
Mon Jun 4, 2012
It is a few days old, but I just cam across an article in DSNews suggesting it is now possible to get a 15-year fixed mortgage for less that three percent. Some homeowners may find it useful to consider a shorter term loan if they can get these rates. Wow!

Best,
Ron
0 votes
Suz A, Agent, Longmont, CO
Sun May 27, 2012
Bankrate.com says the average this week is 3.82 percent.
0 votes
Suz A, Agent, Longmont, CO
Sun May 13, 2012
||||||||||||||||||||||||||||| UPDATE May 2012 |||||||||||||||||||||

Rates remain below 4 percent and in fact have drifted lower to record lows!
0 votes
Suz A, Agent, Longmont, CO
Sun Aug 1, 2010
I blurred the line between mortgage rates and interest rates - two entirely different things. Oops!

Shame on me. I know the difference. But sometimes I catch myself using the term interest rates as a shorthand. Sorry if their was confusion.

The two rates do affect home buying. But interest rates do so indirectly - say when interest rates on other investments becomes unattractive making other investments look better. Low mortgage rates typically attract home buyers - but not in the current economic climate.

Mortgage rates could go lower toward December. With few lenders approving mortgages that means the focus will be on refinancing. The mortgage rates will inch down to attract those who have not done this chore. Because people are staying put and not buying new homes, a refi looks attractive to someone who may stay longer to justify that upfront cost of refinancing.

BTW: I think interest rates will remain low at least for two years. We usually associate rate hikes with an overheating economy. I think that worry is not on the horizon for the Federal Reserve.
0 votes
Scott Godzyk, Agent, Manchester, NH
Sat Jul 31, 2010
They will remain close to this until teh banks decide they will start loaning money, at this point they are not giving out alot of mortgages, therefore rates are falling to try to lure in more borrowers. Once there are more borrowers rates will increase due to supply and demand. I think through winter they will stay in this area. hopfully next spring you will see an increase in lending and therefore an increase in the amount of home buying.
Web Reference:  http://www.ScottSellsNH.com
0 votes
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