How will this bailout plan affect mortgage rates in the next few weeks?

Putting in an offer on a house tonight - worried about what is going to go down since the DOW fell 300 points already this morning and the plan isnt even in affect...How will this bailout plan affect mortgage rates in the next few weeks?
Rates should make a slow and steady drop once the bailout goes into affect as investors confidence returnst to the market.





It won't be a shot in the arm rate drop like the Fannie/Freddie takeover was, but we expect rates to fall gradually over time.How will this bailout plan affect mortgage rates in the next few weeks?
As you are probably aware the bailout plan has not gone ahead. I would proceed with your purchase as I believe that mortgage funds are going to be harder to get.





Disclaimer:


The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.impartial.co.uk.
Looks like your buying a house at the best possible time.


Someday you'll pat yourself on the back.


Listen, interest rates might drop a smitget. Don't let that bother you.


It might mean 10 / month savings. Forget about it, and enjoy buying a home on the best day possible.


Hope you complained about everything and got a good price.



Interest rates depend more on the Japanese yen and the German mark than they do on any bailout bill. Go ahead and lock in your interest rate tomorrow. Or pay a $500 fee and get a ';float-down'; option..
It should free up some money for mortgages, so might benefit you.





Good luck.