Shane/Lady/et al...Mortgage Interest Rates....

[Anonymous]

Now that 30-yr fixed rates are ticking back up (from ~5.125% 3 months ago to ~5.75% now), do you see these rates continuing the climb as this mortgage crisis subsides? I'm wondering b/c I'd can put my wife and myself on an accelerated schedule to buy sometime around June, but I'd personally like to wait until November-January later this year when I'll have close to 10% down & my FICO will be around 750. It seems like the rate is going up 1/8% weekly right now. Will this slow &/or turn around and go back down in the forseeable future?

Thanks...

[ShanetheMortgageMan]

I think rates are artificially high right now... and will start to come down.  We saw a small drop today, so I hope that is a sign for more good things to come.  You should buy when you are ready though, I wouldn't try to time the "bottom" if it puts you in an uncomfortable position financially.