Mortgage rates went back down the 5.5 range this past week. It seems this is a good rate at this time, but really no better than it was about a year ago. Given the economy, I’m hoping they finally decide a viable fix would be to really lower the mortgage rates substantially so that those who have been financially responsible can buy into the market. Realistically, what would the lowest the mortgage rates could get? Thanks!
I think when rates are in the 5% it’s pretty low. I don’t think they will go that much lower.
How low can mortgage rates go?
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It’s anyone’s guess.
But historically 5.5% is very low.
Considering the financial crisis, credit collapse, recession, impending deflation, etc., I’d say the lowest forseeable rate might be about 4%. I’m not saying it’ll get that low (it might, it might not), but that in theory it probably could.
If you want to buy and if you’re qualified to buy now, then buy now. Again, rates are very, very good. And there are a lot of bargains out there.
Hope that helps.
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I think this is pretty close to the bottom. They way they are spending and giving away money, rates will have to go up over the next few years to attract international money.
If anyone is looking to buy, I’d get going.
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I think when rates are in the 5% it’s pretty low. I don’t think they will go that much lower.
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