1. No-one can predict that.
2. That has to be your decision, you can seek advice from an independent mortgage adviser, who can advice the different tyes etc but the final decsion has to be yours.
I wanted to save a little bit of money for a few months and buy a house before the end of August. Will the morgage rates still be as low as they are now in August 2008? Also what detemines if mortgage rates rise or fall?
Mortgage rates are going to be low for a long time. The economy is falling apart and keeping interest rates low is one of the few things that the government can do to help the economy.
The Chairman of the Federal Reserve decides the rate of interest that is charged to banks. This influences the interest rates on home loans.
Good question.
Since the bailout of Freddie Mae and Freddie Mac, mortgage rates fell, correct?
1. Why?
2. How long will this last? I’m looking to buy a house within the next two months, and I don’t want to miss the low rates.
. .. .my crystal ball isn’t working. . . use yours. . . .
two months shouldn’t see the end of the lower rates. . .you’ve time