Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

Thirty year mortgage rates have been moving lower over the past week and are currently in the low 4s,  + or - , depending on each of the myriad of loan variables.  Many of you know that over the past year rates moved as low as 3.5% for 30 year fixed mortgage loans and as high as just under 5.0%.

If this economy begins to recover, even the slightest hint of improvement, the mortgage rates will climb to over 6% in a heart beat.  So at this point my position is to take a very conservative stance on the future of lower rates.  I'm going to assume that if we see something around 5% anytime soon that's about as good as it's going to get.


Many of you are still hoping that rates will drop under the 4% range.  Maybe it will happen,

but we only know when rates were the lowest only AFTER THEY ARE GONE!!!!!

You'll be more upset if rates go up and you miss what you could have gotten than if you refinanced and the rates went .25% lower. 



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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Larry, If only we all had a crystal ball - right?  Some folks would not believe their crystal ball even if they had one. Rate are going up. I would not bet on rate returning to all time lows anytime in the near future. If we snooze we lose.  It's that simple.

Feb 05, 2014 05:41 AM #1
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Larry rates are below 4% (FHA) and hovering darn near that on the conventional side.

I agree they are so close to historic lows its like a second chance for those that missed out on late 12 early 13

Feb 05, 2014 12:15 PM #2
Eleanor Thorne
Equity Resources - Cary, NC
Equity Resources 919-649-5058

Larry - love the picture - but more importantly, the message is spot on.  Folks are "sitting on the fence" when they should be out writing contracts!  

Feb 06, 2014 12:27 AM #3
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Larry Bettag

Vice-President of National Production
What to know how to buy if you're a bit credit challenged?
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