Daily Mortgage Rates News – How Low Will Rates Go?
Posted on | May 17, 2009 | 2 Comments
Daily mortgage rates news gives readers information on the current mortgage market and how it affects your overall life. Today we ask the question “How Low Will Rates Go?”
Yesterday I posed the question “What is the Fed’s Next Move with Mortgage Backed Securities?“ The answer to this question will help to determine exactly how low mortgage rates will go. Unfortunately, none of us can legitimately answer the question. We can make strong guesses, but the overall economy is going to dictate what happens in the near future. Well, if the record foreclosures in April is any indication, it looks like rates could go well below 4.5%.
I don’t think many of us knew what the subprime mortgage crisis would do to this economy but now we are sure seeing it. It is unfortunate to most but quite fortunate to others. Those who saved their money and did not lose the majority of their capital in their home and investments are going to get unbelievable deals. Mortgage rates are already under 5% are are likely to head lower; no one would have even imagined about financing a home for a rate this low several years ago. Some of the unfortunate ones who were not wise with their money are now facing foreclosure and bankruptcy.
If you have money to spend, now is definitely the time to buy as rates are extremely low and EVERYTHING is on sale; well, almost everything. You were smart with your money, now its time to enjoy the fruits of your labor!
Tags: facing foreclosure > mortgage backed securities > subprime mortgage crisis
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May 18th, 2009 @ 1:01 am
[...] posted here: Subprime Blogger / Daily Mortgage Rates News – How Low Will Rates Go? This entry was posted on Sunday, May 17th, 2009 at 4:59 pm and is filed under [...]
May 22nd, 2009 @ 7:19 am
Subprime Blogger / Daily Mortgage Rates News – How Low Will Rates Go?…
I posed the question “What is the Fed’s Next Move with Mortgage Backed Securities?“ The answer to this question will help to determine exactly how low mortgage rates will go. Unfortunately, none of us can legitimately answer the question. We c…