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While I realize it is impossible to predict, can anyone
Posted on 5/24/15 at 2:58 am
Posted on 5/24/15 at 2:58 am
Project what the interest rates might do in the next few months? I am building a house and they seem to be creeping up. Not sure what to expect by the time construction is complete. I will be able to close my permanent loan once sheetrock is up which will be sooner rather than later. Thanks for any advice...
2
Posted on 5/24/15 at 3:16 am to Cali 4 LSU
The general trend will be upward, but no one can know the rate of progression. If we did, then it will already be nearly that rate for your mortgage.
The key word is "creeping" though. It won't move THAT far in six months.
The key word is "creeping" though. It won't move THAT far in six months.
Posted on 5/24/15 at 8:19 am to Cali 4 LSU
Either way you'll be well under the long term historical average for mortgage rates. Take what you can get and be happy about it.
Posted on 5/24/15 at 1:34 pm to Cmlsu5618
Thanks so much. 
Posted on 5/24/15 at 3:00 pm to Cmlsu5618
quote:
Either way you'll be well under the long term historical average for mortgage rates. Take what you can get and be happy about it.
Yeah, I was all pissed off a couple weeks ago because I locked my rate at 4% and could have had it at 3.75% had I locked a few weeks earlier. Everyone told me to relax and realize the rates are better than a year ago and some of the best ever
OP, the rates are creeping up and I see that continuing, but as mentioned they shouldn't go up to bad. But lock as soon as you can.
Posted on 5/24/15 at 5:40 pm to Sho Nuff
I like to think rates will "normalize." Normalization will be a rise in the rates but keep in mind you still have tremendous buying power with interest rates "rising" to 4 and 5%
Posted on 5/25/15 at 12:49 am to SomethingLikeA
I'm thinking of calling the Fifth District Savings Bank as I've seen it recommended on another thread here. Does anyone know if they allow you to be your own contractor? I need to sub it myself.
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