Mortgage Blog

There are more and more people sent me emails about the rate trend recently. Basically, there are two kinds of questions: 1)Will the rate go lower than 4.75%? 2)Will the ARM rate goes lower?

If you follow my blog for quite some time, you know that personally I don't think the rate will go too much this year. If it goes up, it will go up a little bit. And it may go down also. So you will have good opportunity to get good rates.

For the current market, the Obama administration and the Fed hope the economy recovers and the recession will be gone. But it's very very hard with so many foreclosures and the high umemployment rate. And everyone knows that the recover will be slow. As for the mortgage rates, no one knows whether it will go up and down. In another word, the rate will stay at the current range for some time.

For 30 yr fixed rate, you have the opportunity to get 4.75% if the LTV less than 60% and send the file to the lender first or just wait for some bad economic news. For ARM rate, the rate may go lower further. But we still need further confirmation. Staging Refinancing is the key. You have to a strategy to get a better rate and peace of mind.