Bought house in 2015 with a 5-year fixed rate at 3.87. Watching the rates slowly inch upward. Getting lots of mail wanting me to refinance. Anyone want to speculate what they think rates will be in 2020, or should I refinance and lock in a 15 or 20-year fixed right now at 4.87?
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Question about mortgage rates trends
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Last: 5 yr ago by SteveBott
If I could predict rates that far out I'd have a 1000 acre ranch in south Texas by now. I would not predict next Monday's rate.
Since you have a two year window you have time. At some point we will get into recession I just don't know when. But the normal cycle is every 8 years and we have hit that mark this year.
What bott said.
Too many market red flags to continue to rise much further.
Too many market red flags to continue to rise much further.
Thanks. I'll sit tight.
Make sure to hit up Steve though when you do want to refi. He's greatrlb28 said:
Thanks. I'll sit tight.
Weren't we in a multi year recession under obama?
Depends on your perspective. Technically a recession is defined as negative GDP two or quarters. So from 12-07 to 6-09. Obama came into office 01-09. But the recovery took several years to get just back to even.
If you lost your job then it lasted until you got a new one and got back on sound financial ground.
If you lost your job then it lasted until you got a new one and got back on sound financial ground.
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