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Predicting a 30 year mortgage rate around October 2022?
Posted on 12/10/21 at 12:50 pm
Posted on 12/10/21 at 12:50 pm
I am about to build a house and obviously have been tinkering with a mortgage calculator. Trying to prepare for worst case situation, have been putting in 4.5% interest rate in hopes it will be less than that (I believe it will end up being about 3.85 to 4%). Where does the board see the 30 year rate for a good ole baw with good credick and down payment. My lender suggested prepping for 4.25 to 4.5 but that’s to be conservative. Anyone else doing this same exercise?
10
Posted on 12/10/21 at 1:02 pm to JumpingTheShark
Got quoted 3.2 yesterday for immediate buy. We really think it’s gonna go up a whole point? Don’t think the stomachs are there for that.
Posted on 12/10/21 at 1:21 pm to JumpingTheShark
Posted on 12/10/21 at 1:21 pm to JumpingTheShark
3.50...
Posted on 12/10/21 at 2:45 pm to JumpingTheShark
I'd be more concerned on the increase of likely purchase price depending on your market than I would be the interest rate.
Posted on 12/10/21 at 3:39 pm to JumpingTheShark
3.75
Posted on 12/10/21 at 4:20 pm to JumpingTheShark
Get a construction loan that converts to permanent at a fixed rate. You can always refi later if the rates are better.
Posted on 12/10/21 at 5:34 pm to JumpingTheShark
Our first home in 1981 was 15.5% on a 30 year FHA mortgage. This is what you have to look forward to in the future.
Posted on 12/13/21 at 8:48 am to JumpingTheShark
LINK
We will see a rate increase but not sure if it will go into the 4s if you have strong credit. If you are building, you should only have to pay interest only while in construction and then lock 30-45 days out. Time is now to move forward with purchases or refinances because rates will be higher by next year. And the cost of waiting can be detrimental
We will see a rate increase but not sure if it will go into the 4s if you have strong credit. If you are building, you should only have to pay interest only while in construction and then lock 30-45 days out. Time is now to move forward with purchases or refinances because rates will be higher by next year. And the cost of waiting can be detrimental
Posted on 6/26/23 at 7:41 am to JumpingTheShark
Sorry for the late reply, but I’d like to drop in and say that rates can vary based on various factors, so it's a good idea to stay updated and continue monitoring the market as your house-building plans progress. It's great to see that you're taking your mortgage planning seriously and seeking reliable information.
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