Right now it's very hard for anyone to say. With the number of investors moving away from the stocks and dumping money into mortgage bonds and treasury securities analysts say rates should have declined a lot more than they have. Most say the rates will continue to drop but not enough to say I'd bet on it. As I am days away from closing on my home equity loan right now I have been following what's going on closely. My agent said with everyone skiddish about the economy rates are going to drop a little for the next 3 months or so but not by much, I mean the small change in the past 2 weeks only shaved $13 off of my monthly payments so the decreases won't make that much of a difference, she told us to wait a couple weeks for the rates to go down and they did so we are locking tonight. I was very impressed that she had read the market so well. Anyway right now I am a little concerned because our lender is IndyMac and they just announced that they are shutting down their home loan lending business. I figure I'd rather get into a loan right now with a company that is already facing up to the issues of the sub-prime debacle than one that may take too many drastic steps to shirk responsibility and cost us too much money. And I know it's going to happen the domino's are falling and it's always that last domino that falls the hardest and I don't want my lender to be it....
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