196174 Resource 178438 178982 178982 1201912577527 1201912710475 Controlled Mortgage Rates Go Up on Fed Rate Cut

Timing the home loan market is for speculators, not homeowners

Home loan rates ticked up a bit during the week, probably due to inflation worries resulting from the recent Federal Reserve rate cuts. Remember that while home equity loans and short term interest rates for businesses tend to move in the same direction as Federal Reserve rates for loans to banks, the 30-year fixed loan rates more closely track 10-year U.S. Treasury note rates as they are long-term investments for the lenders. This week I spoke with a Flagstaff gal who was timing her home refinancing, without good advice. When the rate hit 5.1%, for a few hours, she called her bank.  Of course, she needed to complete the application process and by the time that was done, the rate was up, so she decided to wait again.Trying to out-guess the next move of the mortgage rate market is no better idea than day-trading in stocks. You’re making a long-term investment. If you need to buy a home or refinance one, get your application in and get it done. <a title="Home loan and mortgage rates" href="http://www.bankrate.com/wsjr/rate/rate_center.asp" target="_blank">Here is a link to average interest rates for today from Bankrate.com.</a> 10 application/xml Flagstaff refinance story Home loan rates mortgage rates false Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1; .NET CLR 1.1.4322; .NET CLR 2.0.50727) 127.0.0.1 127.0.0.1 aheitland 75.160.24.218 false true false false true 178975 false false true false false false true 178438 blog blogsite/BestFlagstaffHomes/web