Don't Hold Your Breath: Mortgage Rates Below 5% Are Gone for Good

WEll I never got married, so...

How many dozen people got a mortgage for less than 5%, and how many up front percentage points were worked into the loan to get the below 5% mortgage?

The efforts of the Fed are unwinding. The average consumer would never agree that there is no inflation. Maybe that's true of you don't eat food or drive a car. They should have two reports; core inflation and "real inflation" statements to reflect the real world. It looks like the Fed NEVER RUNS OUT OF GAS OR NEEDS TO GO FOOD SHOPPING. You'd think they'd get hungry and tired of hitching free rides everywhere. We need true reports not just ones to pacify the masses and prevent them from becoming overwhelmed with panic attacks. The good, honest, hard-working American people deserve to know the true undoctored numbers. Not just the ones they make up to smooth things over for themselves.

Johnny Ike, could you please go learn proper English and not post here again until you can use the language properly?

WTF happened to the goal of 4% interest rates to salvage housing? Isn't the short-lived drop of rates why the housing sales numbers increased in the most recent report?! Houses are still vastly overpriced in terms of any legit analysis, aside from idiots who only look back to 2006... Hey, Obama and Bernanke, where's my 4% rate you promised? Yeah, politicians breaking promises...newsflash. They're more worried about protecting the multiple houses of the Wall Street greed factory workers - they can afford it with their big salary raises, while the rest of us get cuts or lose jobs... Nice.

Just did a refi for 4.5%. No points, paid $1300 out of pocket for all the fees, appraisal etc. Was a great deal. Knocked 3 yrs. off the loan and saving $102 a month. All for $1300. Not a bad deal. 1st Federal Bank, F.Y.I.

Johnny Ike is just playing a game...

If you consider buying you must be aware of more than the asking price and the mortgage rate. You have to pay transaction costs (moving costs, closing costs, real estate commissions), taxes, insurance, and upkeep. You must also anticipate resale value and how long you may have to wait to resell at an acceptable price. I think like this: I should buy a house if I need the space and I am willing to pay a premium for it, it's located where I want to live, and I am staying for years.

Locked in for 5.375 with 2 points--no downpayment (VA)--no PMI. Good, not great. Timing is everything--had we found the home in March the rate would have been 4.8.

At my workplace, 2 of the 3 people I know who have recently purchased a house have rates under 5 w/ no points... I locked just above 5 but could have purchased down to 5 for less than one point, and that was very recently after the big spike the 2nd week of June.

I'm waiting for 15% interest rates. Low rates = high prices. High rates = low prices.

If your buying make sure you got the 20% down payment, the days of 5% and second loans are over. Deals are abundant, cash talks, bullshit walks.

I got 4.625 for a 15 yr refi. Closing costs only 250! Shop around people! Don't go w/ citi. Their rates were higher and they wanted over 3k in closing costs. Yikes.

I like that multilingual comeback. Go Johnny , go! Johnny be good.

As of today, i still offer 30YR fixed rates as low as 4.875% with 1 or 1.5 pts. tonyb@firstbostonmtg.com let me know if you want the truth of whats going on...

yeah, give em' hell Johnny Ike. 4.5% fixed 30 yr., closed in May. if were two weeks later, 5.5%. TIMING IS EVERYTHING !

The stock market has lost a Trillion in value, the bond market has lost about 10 times that, the housing market has lost at least a Trillion and probably much more. The government has only announced plans to spend a couple Trillion over a multi-year period. I'm confused how this could create inflation. Wouldn't the government have to make up for all the lost money supply first?

Asking a mortgage lender what the rates will be in the future is like asking a drug dealer what the laws shoud be for drug trafficing. The both don't have the most objective view. I have never, ever, ever heard a realtor or lender not say that now is the time to buy and or refinance.

Lennar reported some dismal numbers; the rates are going to be left alone to float where "they" want them; consumer spending is in the toilet regardless how the propaganda machine wants to spin it; oops, we had a "unexpected" rise in unemployment; the government is buying Treasuries because no one else will; we have politicians UNWILLING to cut their out-of-control spending; you have Bernanke before Congress which is a joke in itself; and some of you want to criticise Johnny Ike??? Truly amazing..........

Grandpa - What is Agents Name + Number?