mortgage rates will continue to drop?

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Can anyone tell me what is the loan as well?

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  1. Reply
    Califrich
    February 12, 2011 at 1:54 pm

    Nobody can predict the future of interest rates. Anyone who could do that could rapidly become a billionaire in the interest rate futures markets. That said, rates will continue to drop as long as there is little demand for money. However, when the housing market begins to recover, demand for money will increase, and rates will rise. Whether that happens tomorrow, next month or next year, nobody knows.
    As to your second question, a conforming loan is a mortgage loan that conforms to Government Sponsored Enterprises (GSE) guidelines. In general, any loan that does not meet guidelines is a nonconforming loan. A loan that does not meet guidelines specifically because the loan amount exceeds the guideline limits is known as a “jumbo loan.”

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