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mortgage rates

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lokki:

http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx

2600:

--- Quote from: lokki on December 18, 2008, 01:38:43 pm ---
http://www.bankrate.com/brm/Calsystem2/Calculators/InterestVsPoints/Default.aspx



--- End quote ---

Ahh, now that makes sense.  For some reason trying to listen to someone explain it to you just never clicked with me.

RayB:
Just wait for them to cut rates even more. It will be like -1% soon, where they give YOU money.

pinballwizard79:
The fed rate does not affect mortgage rates, look closer @ the 10-year T-bill fluctuations to forecast fixed rates. I am pretty sure its (fed) at like 0.250% as of a few days ago.

HELOC "Prime rate" based 2nds are hot right now for sure I bet (congrats to frizzle), prime hasn't been this low in like 5 years I think.

ARMS are based on the LIBOR.

So Prime, t-bill & LIBOR are what to look for rather than the fed rate.

Anyway yeah I think next week will be a good time to shop lock & close.

But what do I know?

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