[AllBlackBimmer]

I jsut bought myself a house

But I am kind of struggling to decide what to do with my mortgage... as far as locking in a rate, etc...

This week - 11/4 11/5 11/6 rates have jumped slightly from 4.5% to 4.75% and now 4.85%...

The next 2 days - Thurs/Fri 11/7 and 11/8 the following reports are going to come out:

Thursday:
Jobless claims
Consumer credit reports

Friday:
BLS employment report
Personal income reports
Finally, inflations reports.

These all have a chance to move mortgage rates...

So for the people that know way more about these reports and the predictions, or mortgage knowledge - Please chime in!!

Need to take care of this ASAP... as it is wednesday 11/6 at 3:45pm EST.

[ddk632]

Congrats on your house ... but if you bought it don't you already have a mortgage locked in? Or you just entered escrow, and are looking for a loan?

Generally I consider the house bought on the closing day...

No idea about your rates question. I left the crystal ball in my other pants this morning when I went to work at my orange stand...

[MediaArtist]

Should stay steady within .1, .2 for the next week or two.

As long as the government keeps pouring $85,000,000,000 a month into the bond market, they aren't going to spike one way or the other.

Now if in the next day, talks of "taper" start, expect to see a huge spike upward.

[AllBlackBimmer]

Originally Posted by ddk632

Congrats on your house ... but if you bought it don't you already have a mortgage locked in? Or you just entered escrow, and are looking for a loan?

Generally I consider the house bought on the closing day...

No idea about your rates question. I left the crystal ball in my other pants this morning when I went to work at my orange stand...

Yes, I guess i did not tech "buy" it yet... I just entered escrow and am looking for a loan. This is my first home purchase.

And i know rates are very hard to predict, and obviously, if we could all predict them, then what would be the point? But looking for any help or insight I can get...

[ddk632]

I was just being facetious - I just have no idea myself, but there are others who can make reasonable educated guesses. I'm just not one of them.

It's a tough choice especially on a first time purchase; that being said, a quarter of a percentage point either direction isn't going to make a huge difference on your monthly mortgage payment.

Good luck though -- it's definitely an exciting time and a new chapter!

[amanda hor$t]

not something i pay much attention to anymore, but i don't think there will be a significant change for your window. but you can save a lot on interest if you take a 15yr fixed instead of 30yr, and make sure there's no prepayment penalty.

most important thing is to pay it off asap, life's pretty easy when the house is squared away

[ddk632]

Originally Posted by bosster hymen

not something i pay much attention to anymore, but i don't think there will be a significant change for your window. but you can save a lot on interest if you take a 15yr fixed instead of 30yr, and make sure there's no prepayment penalty.

most important thing is to pay it off asap, life's pretty easy when the house is squared away

Dude.

You have the Ur-Quan Kzer-Za as your avatar!

That fucking rules!

[KingOfJericho]

I don't see a catalyst for lower rates at this point so the sooner you lock, the better. If they go down more than 1/4pt during your lock, you can usually adjust to that new rate.