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Old 09-18-2007, 07:10 PM
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Default Does lower prime rate effect fixed-rate mortgage...

...rates? How will the new lower prime rate effect (new) fixed rate mortgages? Will mortgage rates drop?
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Old 09-18-2007, 07:58 PM
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If you have not closed(purchased) yet, you might be able to get a lower rate. If you have closed, you are locked. Maybe in the future you could refinance to a lower rate, if they go down significantly.
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Old 09-18-2007, 08:12 PM
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No!! Fixed means fixed. Cannot be changed. Get the best possible fixed rate you can and stay with it.
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