Where are mortgage interest rates heading?
That is always a gamble. So many of my mortgage clients, in comparing the monthly affect of a 1/4% in rate said it is like going to Las Vegas.
Unfortunately, that is a true statement. My advice has always been, forget trying to buy the bottom, you will lose most of the time. If you can live with the rate you see today, take it. I have seen too many surprises that were serious that caused people to lose much more than a quarter in rate. At times it means they didn’t qualify buy the home they were in earnest monty to buy any more. Floating is risky.
