How Low Will Mortgage Rates Go
· If the feds cut rates again on Wed., how low do you think 30-year fixed rates will go? I know a 30-year fixed mortgage isn’t tied directly to the rates the feds will probably cut, but it should have some indirect impact. I’m currently at a 6% fixed rate and refinancing in the next 30 days. Todays rates for my particular loan are 5.875%, up from 5.75% yesterday.
Economic concerns both domestically and globally are helping drive mortgage rates lower. Experts wonder where the bottom might be. Date released by Freddie Mac, via the Washington Post, shows the 30-year fixed-rate average slipped to 4.28 percent with an average 0.4 point. It was 4.31 percent a week ago and 4.45 percent a year ago.
Then go online and look for refinancing options. initial payment on the interest or an initial payment in exchange for a.
Based on some market indicators, he believes that 30-year mortgage rates might reach a new record low in 2020. That would mean interest rates would fall below 3.31%. There are even some predictions that see interest rates in the twos – but those seem to be more sensational than fact-based, as predictions can often be.
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However, your mortgage payments will end up higher or lower depending on the interest rate you get. [the Federal Reserve] will provide more funding and interest rates will go down,” Guttentag.
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Answer Wiki. We saw the opposite with the flight to quality mentality that pervaded global financial markets when the Eurozone showed some weakness earlier this year. Fixed mortgage rates might go a little lower if the QE2 actions by the Fed are effective while inflation stays low, below 3.5% or so.
How low will they go? The central banks in some countries – Denmark, Japan, Sweden, and Switzerland, to name a few – have dropped their key interest rates below zero, in part, to combat deflation. If interest rates drop below zero, then banks have to pay the central bank to hold its deposits.
Fed Interest Rates Mortgage The average fixed rate on a 30-year mortgage was 4.4 percent prior to the Federal Reserve’s announcement last week that it would not increase interest rates this year. The Fed decided not to raise.