vision3339 asked:


Hi there, I need some quick help.
I managed to get 2 options for mortgage rates-

1) Fixed 25 year for 3.74% for 4 years

OR….

2) variable of 2.45%, 25 years

I know that if the economy gets better, variable might be dangerous. What do you guys suggest?

Cou G asked:


I have been pre-approved by a local very large bank known for their mortgages of which I am a customer. I know the lender.

Once my short sale is approved I will get my first rate & points from him. Then is it best to shop on the internet or go in person to other banks? Do credit unions or online mortgage companies offer better rates and less points than nationally known banks?
Very good suggestions. Thank you all for your ideas.

Franklin asked:


is there a ripple effect? is there a conversion formula? is the affect on mortgage rates delayed? if so, by how much time?

WonderingTheMilkyWay94 asked:


I live in Virginia and recently purchased a home. This is my second mortgage. I had no idea how much mortgage rates had increased. I am paying 6.75 as compared to 6.125. Are mortgage rates expected to climb or is it possible for me to refinance and get back to less than 6.5? My credit is still the same and both mortgages were 30 years fixed interest.

Sophia9187 asked:


I can afford a 130000 mortgage that costs at the most £900 a month. Has anyone got any advice as to who would be a good provider to go with?
Also, I have already been for a quote with Halifax and the lady I spoke to said the more banks I ask at the more my credit rating will be affected, why is this?

jimbob asked:


I’m on the verge of getting a mortgage and was curious how the rate cut would affect mortgage rates. Is it a direct relationship, like if my rate is 6% today and tomorrow they cut a half point, will tomorrow mortgage rate be 5.5%?

I’m looking to do a 30 year fixed with about 50% down and excellent credit, any idea what kind of rate I should be looking to get?

Any insight you can offer beofre I take the plunge would be great. Thanks.

You T asked:


10 year treasuries have dropped over 130 basis points yet interest rates on mortgages have only dropped about a third of that?

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JPA asked:


The Fed is expected to drop interest rates again soon (50 basis points, maybe as much as 75 basis points). How is that likely to affect the mortgage refinance rates (would it be better to wait a few days or to refinance now)? Thanks

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jimramsey asked:


I’m trying to decide whether to refinance now or to wait and see if rates will drop over the next year. Does anyone have any thoughts about which direction rates will be going? I’ve heard from some people that rates will rise due to the bank closures (which means less supply) and someone else has said that rates are high right now and will be coming down at some point in the next 12 months.

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Amit Gupta asked:


Are refinancing and mortgage rates different? Also, is refinancing closing cost higher than mortgage closing when buying new home. I bought a home 10yrs-Fixed-ARM in June’07 at 6.25 and now the rates are 5.75. I will save $200 per-month if I get 5.75. Should I refinance? Advise please. I have good credit.

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