Posted on: 05th Apr, 2010 06:02 am
Looking to get a 15-year fixed, but just noticed that rates went from 4.36 to 4.56 after the holiday weekend. Was planning on locking in later this week.
Obviously, no one here has a crystal ball to see into the future, but is there any chance rates will go back down from here, or is this step up in rates here to stay?
Obviously, no one here has a crystal ball to see into the future, but is there any chance rates will go back down from here, or is this step up in rates here to stay?
jb whatever responses you may receive will be mere conjecture. there are hundreds of forecasters available on the internet, for one place. but i dare say you'll get at least a hundred different answers.
yes, you are correct that nobody has a crystal ball. i did once, but it broke; and it never worked anyway.
you ask "is there a chance rates will go back down..."
i have to answer that question in the affirmative: yes, there certainly is a chance; and there's also a chance they'll go up. i don't mean to be flippant, but predicting interest rates is like predicting the sex of your child prior to conception - you have a 50/50 chance of being right. it's either "up/down" or "boy/girl" in these two situations.
yes, you are correct that nobody has a crystal ball. i did once, but it broke; and it never worked anyway.
you ask "is there a chance rates will go back down..."
i have to answer that question in the affirmative: yes, there certainly is a chance; and there's also a chance they'll go up. i don't mean to be flippant, but predicting interest rates is like predicting the sex of your child prior to conception - you have a 50/50 chance of being right. it's either "up/down" or "boy/girl" in these two situations.
From sources recently it sounds like we are going to start being on an upward slope. Its always better to be safe than sorry. I would lock in your rate.
