Should I refinance now? Or will fed rate cuts (I hear there will be more) drop the mortgage rates mo

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This is not a jumbo loan, and I talked to a mortgage guy who quoted me at 5.5 - 5.75%. Just not sure if it'll go down more.

Should I refinance now? Or will fed rate cuts (I hear there will be more) drop the mortgage rates more?

In my experience interest rates for residential real estate tend to be the lowest in the months of November, December, January and February.

I suspect that the reason for that is during those months the demand for houses and Mortgage money is the lowest.

When the spring market gets going, generally interest rates on Mortgages go up, probably due to the increased demand for Mortgage Money..

I would estimate that we are probably at the bottom or very close to it for residential Mortgage interest rates this year.

The rate that you mention, if that is a 30 year fixed, no points and no fees sounds very good. I would grab that rate and lock it immediately.

I have found that trying to pick the absolute rock bottom on interest rates is like playing the children's game, "musical chairs". You do not know exactly when the "music" will stop. You want to make certain that you have a "chair" when the "music stops".

The same is true on interest rates. The "music" stops about this time every year. I do not know exactly when the "music" will stop, but I do know that the "music" will stop very soon. I recommend that you grab a "chair" now,.

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Should I refinance now? Or will fed rate cuts (I hear there will be more) drop the mortgage rates mo

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