X

With the Income You Need to Buy a Median-Priced Home rising, you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

With the Income You Need to Buy a Median-Priced Home rising, you may need to Learn About Adjustable Rate Mortgages to preserve affordability.

Should I lock in my interest rate or wait?

Q: Interest rates are on the rise for home loans (30 yr FHA), but we have the option to wait to lock, will the rates continue to climb? should we lock now at 4.875% or wait until Jan? We're scheduled to close Feb 28, 2011.

A: Rates increased at the end of 2010 but have mostly stabilized. In general, we suggest that you lock in your interest rate when it is at a level which makes your deal work, rather than trying to time any bottom or dip in rates. To follow rates, read HSH.com's weekly MarketTrends newsletter, Two-Month Forecast for mortgage rates or even our latest Annual Outlook.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Please enter a question.
Please enter name.
Please enter email.
Captcha code invalid
Q: Can I use an equity loan to pay off my mortgage?
JUN 22, 2022
A:

My home is valued at $195,000. I owe $127,000 on the mortgage. I want a 10 year equity loan to pay off the mortgage. Can I find lenders to do this? Certainly! However...

Read More
Q: What is a mortgage insurance premium? Do I need this?
APR 07, 2022
A:

In general, this will be the cost you must pay for a policy which helps to protect your lender.

Read More
Q: Will biweekly mortgage payments save me money?
MAR 23, 2022
A:

Making biweekly mortgage payments will cut your interest cost and shorten the term of your loan.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen