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re: What do you predict will happen with Mortgage Rates...
Posted on 11/7/12 at 12:54 pm to bryso
Posted on 11/7/12 at 12:54 pm to bryso
down first, then up. with the fiscal crisis and mess in europe you make get a quick bump down that won't last long. take that opportunity if you are not already locked in.
1
Posted on 11/7/12 at 1:33 pm to Larry Hollins
We just finished construction. We were not able to start the permanent financing process until we had an occupancy certificate. Once we got that, they needed all financials again and then do another appraisal. Once all that was done, we locked. Ended up getting a 30 yr @ 3.375 w/ 1% origination. When we started, the 30 yr rate was 4.125. The interest rate on the construction loan was 6% and it took just under 6 months to complete. I'd imagine over the next yr or so that rate will stay in the mid-low 3's on a 30 yr
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