| Over the last two weeks we have seen mortgage | | | | government feels that the housing market is on solid |
| rates tick upward almost .1%. While this may not seem | | | | footing and we have seen a bottom, it is likely that |
| like a big deal; it is if you have a loan with the value of | | | | rates could shoot all the way back up to 6% within a |
| $300,000 or more. Many home owners are trying to | | | | matter of months. While this is not likely to happen |
| time the exact bottom before refinancing but this is not | | | | anytime soon, no one knows for sure with this market. |
| the best idea. If you feel you are talented enough to | | | | As soon as the government stops buying up all the |
| time the bottom of any financial market, it is likely you | | | | mortgage backed securities, it is likely we will see a |
| would be extremely rich from these abilities. While | | | | steady increase in mortgage rates. |
| most of us cannot do this, it is smart to refinance | | | | With this knowledge, it is advisable to start planning for |
| when rates are low and you have the ability to get a | | | | that refinance now. It very likely that you will have an |
| rate that is pleasing to you. | | | | interesting time with the appraisal step so you might as |
| Overall, you may save some money if you pick the | | | | well do it now and get it over with before the housing |
| exact bottom on overall rates, but your risk is | | | | market takes any more crazy moves. |
| enormous if you miss with your prediction. If the | | | | |