Posted on: 12th Jun, 2009 12:02 pm
Do you think rates will be better to redo my option ARM jumbo loan to a fixed rate 30 year loan in approx. 10months or 1 1/2 years?? Prepayment over in 10 months, however considering a modification to a 2 yr fixed rate 6.23% ADDING APPROX. ANOTHER YEAR TO PREPAYMENT PENALTY. My goal is to have a 30 yr fixed rate loan at 6% or better.
It is not likely anyone within the community can accurately tell you that rates will be better or worst for any particular date or time. Rates change frequently and it would be misleading to tell you to do something at a point in time. I hope this helps...
but any guise?
prediction ? can any one tell?
My opinion would be to check with a lender now to see what rate you qualify for. If you're content with what is being offered to you now, take it and if rates end up coming down a whole lot more do a "streamline". I hope this helps...
thanks JKennedySLG