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30 year fixed mortgage rates are climbing...  

post #1 of 7
6/11/07 at 4:43pm
Thread Starter 
We locked our rate a couple of weeks ago at 6% and I am so glad now as rates are climbing daily. We are allowed to lower the rate one time for free if rates drop before our closing date, by 1/4% or more. I don't think that's going to happen (closing July 23) What do you think the chances are that rates will drop 1/4% before then?
post #2 of 7
6/11/07 at 8:11pm
Wow! That's a good rate. I don't think they are going to drop...just climb.

We close in 2 weeks and we are at 6.125%
post #3 of 7
6/12/07 at 3:36am
They're going up in Canada in July & supposedly one more time shortly after so I doubt they're going to go down any time soon.
post #4 of 7
6/12/07 at 7:26am
it is possible that they will try to take emergency action to stop us from going into a full blown recession, but it is very very unlikely. My vote is for, 6% is a great rate for a july loan
post #5 of 7
6/12/07 at 9:26am
that's a good rate. I think they will hold pretty steady. With the housing market the way it is, I don't think the fed will start raising them too much..... Ours is 5.75% and we bought our house 2 years ago....I'm happy with keeping that rate for a loooong time!
post #6 of 7
6/14/07 at 4:57pm
Thread Starter 
http://biz.yahoo.com/ap/070614/mortgage_rates.html?.v=1

up this week again, now to 6.74%...
post #7 of 7
6/14/07 at 8:59pm
Yikes, we may have to look at locking in our ARM. It is at 5.5% and we are about halfway through the 5 year term. We can handle the rate going up, but I don't really want to: .
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Mothering › Forums › Natural Family Living › The Mindful Home › Frugality & Finances › 30 year fixed mortgage rates are climbing...