Home loan interest rate? Which way is it going to go?

Wickerman

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Mon Jun-18-07 12:29 PM
Original message

Poll question: Home loan interest rate? Which way is it going to go?

Edited on Mon Jun-18-07 12:29 PM by Wickerman

I kind of anticipated the jump last week. I believe it will be short term. Already my credit union, which typically follows the prime rate indices, has lowered its rate from 6.5 (up from 6.25) to 6.35 on a 30 year fixed. What do you see happening?

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Lex

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Mon Jun-18-07 12:30 PM
Response to Original message

1. Go up over the summer slightly, fall a bit during the late fall and winter.

Edited on Mon Jun-18-07 12:30 PM by Lex

Hang in and around (within a point and a half) of what it's been the last year.

That's my prediction.

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TahitiNut

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Mon Jun-18-07 12:32 PM
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2. With bankrupticies and foreclosures increasing and a buyer's market for overbuilt houses

... any upward pressure on interest rates will be held down. Jumbo rates will increase more than standard rates, imho, over the next 24 months.

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BOSSHOG

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Mon Jun-18-07 12:32 PM
Response to Original message

3. Pushing 7% by first of year

Read an article to that effect last week. Happily we are not in the market now and I'm holding on to our 4.8% fixed rate we got in June 2003.

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Wickerman

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Mon Jun-18-07 01:24 PM
Response to Original message

4. kicking this

so that I can get enough responses ot the poll to support my opinion! :evilgrin:

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tammywammy

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Mon Jun-18-07 01:26 PM
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5. I think the next time the fed meet they'll lower interest rates

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Wickerman

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Mon Jun-18-07 05:25 PM
Response to Reply #5

6. Do they have a scheduled meeting?

I've heard discussion of how the Fed should step in and do something but there is quite a gap between the schools of thought on what should be done.

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