Question
has anyone got any inside info on mortgages?
Is now a good time to get a fixed mortgage? Do you think the interest rates will go down again or up any time soon?
3 weeks ago - 5 answers
Best Answer
Chosen by Asker
I think now is the perfect time to get a fixed rate mortgage. The government has recently announced they will slowly stop buying mortgage backed securities (MBS) and stop altogether in March of 2010. Experts fear the their purchase of MBS has kept interest rates artificially low and as they stop buying rates could increase from .5-1%. A recent news link listed below gives a brief explanation to it. Read down to the section with the subtitle "Abrupt Stop". So, if you are interested in buying or refinancing, definitely consider it soon while rates are still low.
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3 weeks ago
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Other Answers
Psst, come here.... Closer .... Okay, now don't tell anyone I told you this "insider" secret mortgage info... ...... wait for it....... ....... ...... a mortgage is a loan secured by an interest in real property.
by L1t1g8r- 3 weeks ago
No. Maybe. I don't know. No need to thank me, I know I'm the smartest. I even have a disclaimer in my username...
by Kev ~ Not very helpful.- 3 weeks ago
If you can get it fixed then it may be worth your while because it looks like house prices are beginning to rise again. Therefore it's a risk that maybe worth taking if you can fix it at a good price. I only have low mortgage. Banks like to encourage you to borrow more money from them. But I think getting big mortgage is like tying millstone around you neck. You just end up working all your life long for a bank who owns biggest part of your house. They wouldn't estate to take it from you if you start to miss payments. Numerous people in UK have already lost their homes, and it is expected many more will lose them this year. I think it is especially terrible for women who are forced out to work when they have mortgage and young children to provide for (what has feminism done for them) and no partner to help because he has left or was thrown out due to something like drug taking that has destroyed him and their lovely home, or for whatever reasons they have parted. I have gone on a bit of a tangent to answer your question, but hope it's of some help.
by Stevalia- 3 weeks ago
No That's up to the individual, each product has a risk. Difficult to predict.
by WelshLad- 3 weeks ago