Do you think housing interest rates will increase or decrease in the next 60 days and why?

Question

I am buying a house and closing on 26 Sept. Any predictions on when the best time for me to "lock in" to an interest rate?

Extra info: I'm getting a VA loan through USAA. The seller has agreed to pay closing costs up to .125 points (1/8th)

Answer 1

If anyone can answer this question,they wouldn't be on Yahoo Answers, they would be out there making millions.

Nobody can predict the interest rates within the next 30-60 days, not even Berneke who sets them.

Regardless of the interest rates you locked in today, they will no doubt have two results next month:

1. You are glad that you got the loan 1/8th point lower than last month.

2. You are sad that you got the loan 1/8th point higher than last month.

Forget the rates, get that house now!

If the rates go down considerably next year, you can always refinance.