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To: Venkie who wrote (116963)4/13/1999 10:41:00 AM
From: Rich Young  Respond to of 176388
 
Venkie, I think heard the 10-year bond is a better indication of where mortgage rates are headed, due to the fact that the average mortgage is held around 7-10 years. I was extremely lucky to get 6 5/8 back at the end of September last year and haven't seen anything close to that since. I hope they do get back down there, as I have a couple of siblings buying homes.

By the way, aren't you paying cash <GGG>?

Good luck,
Rich



To: Venkie who wrote (116963)4/13/1999 10:59:00 AM
From: Lee  Respond to of 176388
 
Hi Donnie,..Re:. I am still trying to lock in my my new house %

Rich is correct in that they are more closely tied to the 10 year I think. Look at the links below, NTBK is quoting 6.375% on 30 year fixed.

atlnetmortgage.com
mortgagequotes.com

(just bought some NTBK stock, very little! <g>)

Not sure the 30 yr. is going much lower unless we get some more flight to quality buying from a new global crisis. Our economy is plenty strong.
Good luck,

Lee


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