 鲜花( 65)  鸡蛋( 0)
|
楼主 |
发表于 2009-7-18 08:28
|
显示全部楼层
ZT - TMG - Will 5-Year Mortgage Rates Fall Further?4 |: N, q4 i1 H3 [9 o
/ h% w( }' I8 s
Banks last raised mortgage rates on June 9, when the 5-year bond yield was at 2.68%.7 S3 p$ _% l) _' u! K: B/ x! ]
9 [/ U: V1 L6 a6 b8 z: ~- R5 u
Since then, the 5-year yield (which guides fixed mortgage pricing) has fallen to 2.44%, but bank rates have not budged.. u5 A. L4 L6 ]5 N: e3 U2 _# T
7 K' M" g/ r: i4 q6 i6 RBMO economist, Doug Porter, told the Toronto Star it's because banks "want to be convinced that it is not a flash in the pan and that any retreat in yields is sustained." $ K0 r8 f4 F$ O/ n
6 _$ w, S- W. s, Y3 Q3 ZHe says: "I believe that we are probably not too far away from that point. It might take a little more of a deeper rally (in bond prices) to make it completely convincing."( a+ Y9 t% o. s! Z3 m
& `9 } G& _* {: d
The often quoted CIBC economist, Benjamin Tal, thinks yields could fall another 0.05% to 0.10%, but any drop in fixed-rates will be short-lived. "By the end of the year, we'll start seeing rates rising," he says.
6 r) u, V' w) |) B
, f8 x; _" J n6 E: b$ C, H6 M DIf rates do drop another 0.10%, it would translate into a $5.50 monthly payment savings for every $100,000 of mortgage. That's a total savings of $478 over five years, assuming a 25-year amortization and typical fixed rates.4 N3 A: _ |1 ?
* ]& B/ _& p( z0 m8 C8 C
But remember, trying to time bond and mortgage rates is financially hazardous. While you're waiting, rates can move the wrong way-quickly. ( l u2 ]) r) r T1 A3 \' `- R
) b9 F2 E* R# D- {' y
You're usually better served by focusing on factors that can dwarf a 0.10% rate savings, like finding a mortgage with the optimal term and just the right amount of flexibility (pre-payment options, openness, readvanceability, etc.). Too much flexibility is a waste, and too little can cost you in the long-run., _# n' C* k$ D$ D( K% s" X% K/ P' z
0 M. c8 p5 w3 Z" l2 G8 H5 C
; J, ?& W6 x I3 fwww.happymortgages.com |
|
楼主: 郭森房贷
狗仔卡
发表于 2009-6-24 17:04
显身卡
