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Refinance home what do you think refinance rates will look do next week? Up? or down?

by mshankins12260 from Mountainville, New York. Mar 28th 2017 Reply


Larry Gray (lgray_312_247)
#5 ranked lender in California - 1,127 contributions

Always difficult to predict, I think rates are on the rise at the moment, at least temporarily. We had a jump of probably half a point in rate on average shortly after the Trump inauguration. Since then the slow movement upwards came back down to that initial increase after the inauguration. Since then it seems we have traveled up and down slowly. We recently hit a low since that time, though that is not saying much since rates have been going up and down so slowly. Always remember rates tend to climb more quickly than they fall. With some "experts," several days or so ago having made the market prediction that bonds may have seen their rise in yields and could be coming back down (i.e. 10 year treasury bond), it seems rates should stay low if not falling much from now at all. They did come down along with mortgage rates for a little while and now seem to be rising slightly. In this business most of we mortgage consultants tell people it may be wise to lock now on a refinance loan if the result in doing so seems worthwhile enough. On a purchase it is almost always wise to lock in a rate early so one can focus on getting the loan closed and the resulting move. Long term, most "experts" seen rising rates.

Mar 29th 2017
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

Rates always move up and down.. but if you are within a week or two then you should lock now and don't look back.. When rates improve, it's usually very slow and over a long period of time.. but when rates go bad, it's quick and over a short period of time.. by waiting you might see a 1/8th improvement in the short term, but at the cost of possibly having to pay 1/4 to 1/2 more.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 29th 2017
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