Comments on: Fed Says 4.5% Mortgage Rates Coming Soon, Others Say It is A Pipe Dream

By: Ryan

Ryan — Tue, 28 Apr 2009 18:24:15 +0000

I just locked in my rate with Provident Bank about 10 minutes ago. I got 4.5% with 1.0 origination point.

By: Gerald

Gerald — Thu, 23 Apr 2009 14:02:16 +0000

I just signed my contract 4-21-09 and I received a mortgage rate at 4.5%. Everyone that I have talked to says that is a steal & that I must have really good credit, but I don’t know for sure. I am just super glad to get such a great rate because it seems like no one gets 4.5%. I can not be happier, I would definately get off the fence now. I’ve done a ton of research & it seemed to me like now was the best time & apparently it was. I’m in Texas and used Omni American Bank.

By: James

James — Tue, 17 Feb 2009 04:58:11 +0000

I understand that these are uncertain times. I and several of my friends are just waiting on the fence for the 4.75 % rate. The salers are growing impatiant. I wish I knew when to jump off the fence.

By: Refinance Madness | Uncommon Cents

Refinance Madness | Uncommon Cents — Tue, 23 Dec 2008 22:43:33 +0000

[...] Market Committee just lowered their rates to about as low as you can go, and in combination with the government’s stated goal to get mortgage mortgage rates down to 4.5% (which, as long as the Feds and states like the one I live with allow tax deductibility on mortgage [...]

By: Christian

Christian — Sat, 06 Dec 2008 21:40:28 +0000

Guys the Fed doesn’t have a clue. Our asset prices are going to fall a lot lower than we all think if we don’t get inflation under control. “Stimulating sales” ought not be our focus right now. It doesn’t matter if you can get a home at even a 2% mortgage…if values are falling, people are not going to buy. Interest rates should be in the double digits right now and climbing. Instead, we have everyone still trying to get the market back to “normal”. What we need to be doing is NOT buying; we need to be saving money and paying off the ridiculous debt we’ve accumulated. After we’ve accumulated some wealth, we can reasonably get back to investing. We’ve got to get away from the idea of buying assets with no money. That’s not real growth; it doesn’t really help anyone. We need to stop spending and start building wealth.

By: J Bradford

J Bradford — Thu, 04 Dec 2008 20:18:46 +0000

It seems there are numbers posted about how much it could cost the US in home sales from people holding out:
http://www.vamortgagecenter.com/blog/2008/12/04/4-billion-in-lost-home-sales/

By: Some Guy

Some Guy — Thu, 04 Dec 2008 17:36:33 +0000

The only people holding off will be those that are financially secure and can manage to hold off. How many are there of them right now? Everyone is so desperate that even these historically low rates have doubled mortgage volumes independent of news of a further drop. This is good even if it doesn’t come true, and even better if it does. Win/Win?

By: Brandon Green

Brandon Green — Thu, 04 Dec 2008 16:34:04 +0000

Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy.