Mortgage Blog

I am watching the rate closely recently. And tried to find
the trend for the interest rates for the next a few months.
Here is my opinion about the rate:

1)The rate will be in the trading range for quite some time.
Maybe until Thanksgiving time. The future trend will depend
on the economic data.

2)The current rate is/will be the short term low. And this rate
will be re-visited a few times until going higher in the future.

3)For 30 yr fixed rate, not sure whether 3.875% is possible(for
no closing cost), but 3.75% or lower will be unlikely. 15 yr fixed
rates can not be lower than 3%. 3.125% will be a good rate if you
can get it.

4)ARM rate will stay low for some time, and also until more data.
But for current 5/1ARM 2.75% 7/1 ARM 3.125% High Balance or Jumbo rate is indeed a good rate.