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Do you think that artificial 4.5% mortgage rate will go through? When? Will it count for refinancing?

January 21st, 2012 | 2 Comments

Do you think that artificial 4.5% mortgage rate will go through? When? Will it count for refinancing?

We’re planning on closing on a house in 12 days and it would be a shame to barely miss out on such a low interest rate.

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Filed under: Mortgage Refinancing · Tags: 4.5%, artificial, count, Mortgage, Rate, refinancing, Think, Through

2 Responses to "Do you think that artificial 4.5% mortgage rate will go through? When? Will it count for refinancing?"

1. john565656 says:

   January 21, 2012 at 10:36 am

   Yes
   After inuarguration
   Probably not — it will be meant to clear out the inventory.

   Reply
2. Dan C says:

   January 21, 2012 at 11:26 am

   I am in the mortgage lending business. If you have a rate locked ealier than last weeks plunge, you may inquire about a float down option with you lender. There is a pricing hit for this, however it can be absorbed by the lenders margin. It is usually .25 to .375 off of their margin. They may be able to roll you down to a bit lower rate, obsorb the hit. They may be able to assume the same margin and you get a lower rate.
   In coming weeks the rates may get lower yet in which you may miss out unless you want to roll the dice and ask the sellers to delay the closing for a fee. You may be chasing bad money because these rates may never come.

   Reply

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