Which Way Are Mortgage Rates Headed?

Home mortgage rates are at record lows, and still falling.{} A local loan officer says a 30 year fixed rate in Tulsa is now in the low, low 4 percent range.{} How low can they go, and at what point should you lock in your rate?Whether you're buying new or refinancing, you may be wondering where the bottom is.{} A recent survey by the Mortgage Bankers Association found that there's mixed opinion of where rates are headed from here within the next 60 days.

  • 39% say they'll go up.
  • 27% believe they'll go lower.
  • 34% say rates will stay about the same.

So, lock in the rate now, or wait?{} A Tulsa mortgage broker says the timing depends completely on the borrower and their individual circumstances, but if you're comfortable with the current rates, lock in now.While mortgage{} rates are at historic lows, you won't automatically get that fantastic rate. The rate you pay depends on a number of factors, including your credit score and the size, type and length of the loan.{}Before refinancing, says homeowners should ask themselves these 6 questions.{} {}{}{}{}{}{}