Lower mortgage rates ahead?
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If you’ve been waiting for home loan interest rates to drop, it’s time to start paying attention again. From ‘Mortgage rates expected to slide with Fed’s new moves’ by Tom Petruno at The Times’ Money & Co. blog:
Home loan rates should fall further with the Federal Reserve’s latest moves to pull down long-term interest rates -- offering new hope to home buyers and to homeowners looking to refinance. But how much lower loan rates might drop is a matter of debate on Wall Street. Although the Fed directly controls short-term interest rates, it merely influences long-term rates. Some experts see mortgage rates tumbling another half-percentage-point in the next few weeks. Others see a smaller decline.
Read the entire post for the details, but in a nutshell we could be looking at rates under 4.5%, which would no doubt spur another refi wave.
-- Lauren Beale
Thoughts? Comments?
