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Started By
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Closing on Home- Interest Rate Forecast
Posted on 4/16/25 at 2:09 pm
Posted on 4/16/25 at 2:09 pm
Coming up on the end of our build by the end of this month. Construction loan is through July. Do I close now or wait it out to see if the rates will be lower? Don't know what to do at this point, need help.
9
Posted on 4/16/25 at 2:10 pm to SmokinBurger
Magic 8 ball says… you’ll make the wrong decision either way. Just go with your gut and accept it as your best guess, then don’t beat yourself up if it ends up being wrong
Posted on 4/16/25 at 2:14 pm to Upperdecker
You have a good point. I'm just stressed thinking about it.
Posted on 4/16/25 at 2:37 pm to SmokinBurger
Posted on 4/16/25 at 2:53 pm to SmokinBurger
Just refinance it now and it rates drop refi again
Posted on 4/16/25 at 3:59 pm to SmokinBurger
10 year treasury yield is your canary in cave.
Feathers are flying.
IMO, propensity for Mortgage rate Upside (higher) risk > downside (lower) gain.
Bond traders have spoken.
Feathers are flying.
IMO, propensity for Mortgage rate Upside (higher) risk > downside (lower) gain.
Bond traders have spoken.
Posted on 4/16/25 at 4:02 pm to SmokinBurger
I locked mine in the other week per my lender's advice, though my closing is in May so not the same timetable. Seems like a crapshoot to predict.
Posted on 4/16/25 at 4:40 pm to Upperdecker
quote:
Magic 8 ball says… you’ll make the wrong decision either way.
Always worked for me!
Fall in love with the house, not the rate. Can refi later...much much much much later.
Posted on 4/16/25 at 4:43 pm to Lakeboy7
I would probably risk it at this point but nobody knows what Trump will say next.
Posted on 4/16/25 at 4:47 pm to SmokinBurger
Get a consensus from this thread and do the opposite.
Posted on 4/16/25 at 4:50 pm to LSU1018
quote:
I would probably risk it at this point
Sure. We are a ways away of from the "long term gain" part.
Posted on 4/17/25 at 6:30 am to SmokinBurger
Interest rates went up this past Monday.
I would lock in now with a bank that keeps the loan in-house.
Save up cash so if you need to refi, you don’t have to roll in the closing costs.
And if you refi with the same bank that already has your info on file, it’ll save you a lot of closing costs
I would lock in now with a bank that keeps the loan in-house.
Save up cash so if you need to refi, you don’t have to roll in the closing costs.
And if you refi with the same bank that already has your info on file, it’ll save you a lot of closing costs
Posted on 4/17/25 at 10:07 am to Lakeboy7
quote:
Fall in love with the house, not the rate. Can refi later...much much much much later.
I wouldn't wait too long, you're paying mostly interest up front. You might have already paid 25% of the total interest in just the first 5 years.
Posted on 4/18/25 at 5:16 am to SmokinBurger
Overextend yourself on a 5 year ARM. Houses always appreciate and interest rates always go down.
By the way, what did you think about the series finale of The Sopranos and have you heard that iPods are about to be phones?
By the way, what did you think about the series finale of The Sopranos and have you heard that iPods are about to be phones?
Posted on 4/19/25 at 7:19 am to SmokinBurger
The answer is in DOGE execution. Do you believe Elon can knock out $1T in government spending? If so, rates will be down significantly next year so get a 3 or 5 year ARM. If we cut spending less than say $500B then we are still facing extreme rate pressure from our federal debt.
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