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Locking in a Low Refinance Mortgage Rates

Locking in a Low Refinance Mortgage Rates
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If you want to recognize the end of a cycle then you better know that it is not an easy task. All of this depends on the duration of time span before the rates in real estate market start increasing higher. It is a common belief of many experts that existing low mortgage rates remain consistent throughout the year and it is quite possible that they edge even lower. Again, you can say that after world war II, the mortgage rate are showing a continuous consistency and in this way it is prompting investors to believe that it will be low as it will ever go.

Now, the investors are looking forward to see whether the billions of additional tax dollars invested by US. Treasury department will fix the mortgage rates into the low range of -4% to high range of -3% or not. Or is it the best time to lock into the low mortgage rates before they climb up back to higher rates in a range of 5% to 6%.

There is also a possibility that the rates will grow higher more than 7% range. Those borrowers who are waiting to invest in mortgage are facing a very tough decision whether to wait or lock now at low rate. It depends on the flexibility but if the borrowers wait for a little period then they can have the difference of tens of thousands of dollars over the whole life of their real estate.

Some borrowers are advised to wait so that as soon as they see a rise in property value then can continue the investment, however, the situation becomes different sometimes and it would also be better if you lock into the low mortgage rates now.

 

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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