Mortgage rates so low?
Has anyone else benefited from the government seizing Fannie Mae and Freddie Mac?
I am settling on my new house October 20, and when I applied for my mortgage about 1 month ago and decided to float the interest rate (rather than locking in 6.5% at the time). Today I was able to lock in 5.75% at 0 points!
When I decided to wait to lock-in, I was just hoping to get down to 6.25 or 6.125, so obviously I am thrilled with these results!
Has anyone else done just as well?
And what happens now? Do you think they continue to drop, or start to rise again?
They actually dropped Friday before the takeover this weekend. I’m not sure why. But, I’m in a similar situation to you and my loan officer called me Friday afternoon letting me know about the rate drop.
Good timing for us. Low house prices and decently low interest rates.
I think the rates will continue to fluctuate in this same area until the housing market turns around again.
Should I Lock? Should I Float? Mortgage Rate Guidance for November 20, 2008
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Mr Gasket FLOAT ADJUSTMENT KNURL LOCK SCREWS $12.99 FLOAT ADJUSTMENT KNURL LOCK SCREWSFLOAT ADJUSTMENT KNURL LOCK SCREWS |
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Float $14.07 Float |
Tags: hack · howto · lock · lockpicking · mortgage float or lock · securityNo Comments
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