What are mortgage interest rates based on and how do I estimate what my ARM rate will be when it adjusts?
Aug 21, 2009 by Been there, done that | Posted in Renting & Real Estate
My 5-1 ARM adjusted last year and went to 6.25%. It will adjust again this November. Are mortgage rates based on the feds fund rate? Or something else? How can I estimate what my new rate will be?
There are multiple indices that are used by mortgage holders to adjust a mortgage rate. some are tied to t tresury bills, some are tied to the LIBOR rate.
You will need to check with the mortgage holder, (or just check your original mortgage contract)
patrick | Aug 21, 2009
look at your loan agreement to see what your rate is tied. it will not be fed funds rate but some other index. those indexes are quoted daily in yahoo finance area.
be careful. 30 year rates are about 5%. your rate could be 10% in 3-4
David Z | Aug 21, 2009
How do current mortgage rates help new home builders?
May 22, 2009 by Brian B | Posted in Renting & Real Estate
I'd like to buy new construction as a result of the great mortgage rates right now. However, by the time I'd close on my house in December, it could be a totally different ballgame and rates could go through the roof. It seems to me, then, that low mortgage
Most economists predict that interest rates and home mortgage rates will remain low for some time to come. There may be some slight increases later in the year as the economy and the housing market improve but the rates are at record lows and now is
| May 26, 2009
It dosen't help homebuilders. Right now nobody is really touching new construction. Theres to much inventory already on the market.
Danielle M | May 22, 2009
What are the current mortgage rates like and are there any signs of the mortgage rates changing soon?
May 05, 2009 by Craig Johnson | Posted in Renting & Real Estate
I'm looking to get the best current mortgage rates available because me and my wife are looking for our first home purchase. Can anyone point me in the right direction?
There is no such thing as a standard rate as there was 20 and 30 years ago. The rate you get depends on your credit rating, the type of loan you want, the down payment you put down, the points you pay up front to buy the rate down and other things.
glenn | May 05, 2009