Will mortgage interest rates drop again soon?(Posted by contrafleaux on 6/17/09 at 11:01 am)
I want to refinance, and drug my feet for various reasons several weeks ago. Rates have gone back up. Are they going to drop again in the near future. I would like to be in the 4.5 - 4.8% range, if possible.
MileHigh Colorado State Fan Most likely a mile high Member since Jan 2004 7920 posts
re: Will mortgage interest rates drop again soon?(Posted by MileHigh on 6/17/09 at 11:09 am to contrafleaux)
no one knows for sure. The 10 year, as LSUputin pointed out, dropped yesterday and today. Yield sits at 3.58 right now, compared to almost 4 last week. So, you would expect rates to drop some (done about 3bp since last week per bankrate).
Who knows to be honest. 5.5 is a great rate if you ask me.