Mortgage Rate Advice

[SKing24]

I'm looking for some advice on where you think mortgage rates are going here in the next couple of weeks. I'm buying my first home and my broker said I can lock in a rate of 5.375 now or float the market. About 2 months ago when I got pre-approved the rate was 5.0. Do you see the rates continuing to tick up or do you think the rates will tick back down over the next couple of weeks? Thanks in advance for your time/advice!!

 

[punter]

When the fed is at zero there is not much room for downward movement.

5.375 is a good rate. I would lock it in.

 

[8ate]

but;

Is the real estate going to increase or decrease in value next 3 years..??;
a lot more important than .25 interest rate change..

jmho

gl

 

[SKing24]

Thanks for the advice guys...ended up locking it at 5.238 after letting it float for a week.

We bought the property for 20% below what it sold for in June '07 and 9% below the 2 almost identical comps sold less than 2 months ago.