What are rates going to do?

By
Mortgage and Lending with Carolina Home Mortgage

What a turmoil..What a mes..

Rates are up up up

today I have had three rate changes.. Are the Feds going to raise rates ? I sure hope so, then our rates would come down.  The speculation is killing buyers. Last week they heard 5.75 and this week they are hearing 6.25. That is a big spike in a week.  I think they will come sdwn again and soon. But in the mean time we are going to face nervous buyers and nervous sellers.

Maybe the rates will do the opposite of what Iam saying and come cause buyers to buy. They may feel that rates will be going higher.  Be cautious of lenders lowballing.. get locki-in confirmations.

Keep in mind that all underwriting is taking much longer.

 

Happy Selling.

Comments (2)

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

it might be better to have a spin wheel...let them spin it and give them the right that pops up.

Jun 10, 2008 06:53 AM
Eleanor Thorne
Equity Resources - Cary, NC
Equity Resources 919-649-5058

Honey!  We are in the Dubbya!  We are on our way up on the middle part - due to the stimulus package and the Chinese... then we'll go down a little bit till after the election... then I'm hoping we go WAY up over 7.5.

That would mean we have a great economy... and it would potentially set me up for ONE more refi boom!  YoWho!

Jun 10, 2008 03:53 PM