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Do you see mortgage rates for 30 year fixed loan going up, down or same next week and next month?

by Neswani584 from Lake Charles, Louisiana. Jul 22nd 2016 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

No one really knows.. Interest rates are driven by the market place.. there are up days and down days.. and for the past 2 weeks, it's been fluctuating.. but in general, there is one thing you can count on.. When rates improve, it does it over a long period of time and inches down slowly.. but when rates deteriorate.. it goes fast and quick.. holding out for a possibly 1/8th better rate can end up costing you 1/4 to 1/2... and the later is more likely.. I always tell my clients.. if your happy with the rate that I quoted you, then lock it in as soon as you can and don't look back.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jul 22nd 2016
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Scott Fix (ScottFix)
#1330 ranked lender in California - 184 contributions

Great question!! Mortgage rates have been all time lows for a long period of time. William is spot on. When rates improve, they do so slowly, but increases in rates can happen much more rapidly. If you are engaged in the loan process currently, speak with your loan professional about their experience over a period of time. No reason to quibble over dimes (small 1/8th) decreases when waiting can cost you real dollars if the rates increase!! Remember to shop your rate, fees and service!!! All the very best, Scott.

Jul 22nd 2016
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Charles Parharm (charles@callthemax.com)
#35 ranked lender in Louisiana - 4 contributions

It is really difficult to say what rates will from day to day. It really depends on what is going on in the marketplace. My suggestion is if you are buying or refinancing and you got, in your opinion, is a good rate when you get loan approval, then lock it in. But make sure your loan will close before the rate lock expires. If the rate expires prior to your closing, your lender or broker will have to extend your rate lock. This will cost you, depending on how long the rate extension will be. There are other factors to consider as well. Your loan officer should be able to explain them to you.If I can help your with a purchase or refinance mortgage or if you have any other questions, do not hesitate to contact me at 504-313-2326 or visit my website at www.callthemax.com.

Jul 22nd 2016
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