Will waiting get me a lower rate?

With record low rates being the constant headline in mortgage news, it’s easy to understand why someone would continue to wait to refinance or purchase a new home. Waiting for that percentage to reach its absolute lowest sounds like a great idea, but how long is to long in this waiting game?

The mortgage rates held steady throughout this week, but it was just 1 week ago when we saw a slight rise again. If you haven’t been following the latest news of our current economic crisis, we have already seen the Central Banks take action in aiding the European banks in order to help increase the U.S dollar liquidity in Europe. This has provided a “Band-Aid solution” for the stock market, but has also caused the mortgage rates in Europe to rise. As the Fed seeks other stimulus measures to help our economy rise we are sure to see more fluctuation within the mortgage industry.

The government will keep coming out with new ways to help our economy and it’s hard to say how this will affect mortgage rates, so it just might be a good idea to take advantage of the record lows right now before you find out you’ve waited to long.

Roger Odoardi

Roger is an owner and licensed Loan Officer at Blue Water Mortgage. He graduated from the University of New Hampshire’s Whittemore School of Business and has been a leader in the mortgage industry for over 20 years. Roger has personally originated over 2500 residential loans and is considered to be in the top 1% of NH Loan Officers by leading national lender United Wholesale Mortgage.