Mortgage rates today-lowest mortgage rates today [mortgagerates-tips.blogspot.com]
Texas Mortgage Info: How your mortgage person structures your loan is more important than the getting a low rate. www.mylendingplace.com
mortgagerates-tips.blogspot.com Today's Mortgage Rates: Which home loan is best?
Want to learn about Interest Rates?
Before searching for the lowest mortgage rates today, let’s learn the history of interest rates in America. According to Wikipedia the Federal Reserve Federal Funds Rate in the United States has varied between 0.25-19 percent from 1954 to 2010.
Interest Rates did go as high as 19% in America at a time, but don’t be surprised because In Germany the interest rates were as high as 90% in 1920.
It’s a shock for many of us Americans, these days even 6% sounds really high. In the late 1970’s and early 1980’s America experienced the highest Interest Rates and today we are already at the lowest we have ever seen, but, according to economists, we have not hit bottom yet.
Why Interest Rates are changing all the time?
Many economists think lower interest rates will give a gain in economic activity, short term of course, and then will offset by inflation. This is one of many reasons the U.S is experiencing historically low Mortgage Interest Rates. The economy is not the best we have seen and many U.S officials, economists and other politicians in congress are trying to make a change. Experts say that the change in the interest rates early this year, 2010, already rose the spending in America and the economy is already getting better as a result. I don’t believe so, because even when interest rates are at their lowest homeowners still cannot refinance their homes and/or purchase new homes because Fennie Mac and Freddie Mae have tightened their guidelines.
How do we really know if we did get the lowest mortgage rates today?
There are different options for you to seek for low mortgage rates today. What you really have to understand is the way mortgage lenders work and monetize their business and please remember that mortgage lenders are in this business to make money. Why every mortgage lender offers you a different mortgage rate today if there is only one mortgage rate in America?
Mortgage lender uses the index which is the actual Interest Rate and they add their Margin. The margin is the mortgage lender’s real profit. You should know that you can always negotiate the “Margin†with any mortgage lender because they want your business. This is a good way to get the lowest mortgage rates today.
Now that you understand why the interest rates are changing all the time and you know how high and low they can get, you can go ahead and search for a good interest rate that will lower your mortgage payments. Don’t ever take the first offer just because the mortgage Interest rate you’ve been given sounds good. You could find a lower offer from another mortgage lender. Compare mortgage rates today and get the lowest you can possibly can.
Suggest Mortgage rates today-lowest mortgage rates today TopicsQuestion by brazilnutrhodes: I am going to buy a home in 1 year. Can I lock in mortgage rates today? I will be purchasing a house in one year. I believe long term mortgage rates are around their low. I am concerned about where those rates will be a year from now. Is there a way I can agree to borrow from a lender and lock in today's mortgage rates? Best answer for I am going to buy a home in 1 year. Can I lock in mortgage rates today?:
Answer by Dav
The only way to find out is to talk to some lenders.
Answer by daisykristina
I don't think so, usually there's a time limit on locking your rates, for a month or so. The idea is so the rates will remain the same in between signing the contract and the actual closing. good luck!
Answer by Kutekymmee
you may be able to, but you will pay a premium to do so. many mortgage companies allow you to 'lock in' rates for 30 days or more, BUT you have to pay a fee to do this. The longer the lock in period, the higher the fee. at one year out, the fee you pay will be VERY high, and probably not worth the savings on the rate.
Answer by disco legend zeke
you can get an assured mortgage rate by hedging with an interest rate futures contract. if interest rates go up, you make money on the futures contract which compensates for the increased interest you will pay. if interest rates go down, you will lose on the contract, but also save on your payments. like any other form of hedging or insurance, you will be paying a small price for the peace of mind.
Answer by mortgage help
That would be great... but no, you can't. Most lenders will lock you as far out as 60 days. There are 90 and 120 days available with some lenders but these extended locks will cost you. help@choicefinance.net
Answer by J O
I hate to be blunt but everyone in this thread is incorrect. Yes you can lock in a loan rate for a year, it will likely cost you a point or so (not such a big deal if you expect rates to rise). The longest free lock is usually 45 days. Some shady broker house will charge you to lock rates but large BANKS like mine really aren't concerned about a few dollars here or there if we can do your entire loan instead. If you have any questions feel free to email me. Otherwise good luck, and I would stop taking advice about the biggest financial decision you will ever make from people who aren't in the industry.
