Anthony Hsieh, CEO of

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This is a partial transcript from Your World with Neil Cavuto, August 1, 2003, that was edited for clarity. Click here for complete access to all of Neil Cavuto's CEO interviews.

Watch Your World w/Cavuto weekdays at 4 p.m. and 1 a.m. ET.

NEIL CAVUTO, HOST: Mortgage rates (search), by the way, are back over the 6-percent level. That’s for a 30-year mortgage, I should say, but don’t worry if you haven’t refinanced yet. My next guest says it’s not too late to get in the game.

He’s Anthony Hsieh. Anthony is the CEO of, and he joins us from Los Angeles.

Anthony, a lot of people feel they’ve missed the wagon.

ANTHONY HSIEH, HOMELOANCENTER.COM CEO: Well, I don’t think so at all. Six-percent rate historically is a fantastic rate. It’s not as good as the 5 percent three weeks ago, but I think, if you’re realistic, you’ll agree with me that 6 percent is still a heck of a rate today.

CAVUTO: Well, it’s a good point, and people forget that. But the fact is they’re concerned that it’s going to keep getting higher and higher and higher. What do you think?

HSIEH: Well, it might. Today was another horrible day for us in the industry, but it just seems like every day it continues to go up, and so...

CAVUTO: All right. Now this is your business, so I’m going to defer to your expertise. I want an exact number. Where are we going? How high do you think the 30-year mortgage rate will go?

HSIEH: I think this is pretty much it. But, then again, it’s hard to say. My crystal ball is not working today. But I think this is about the upper end of it. I certainly hope it is.

CAVUTO: Now there are other options. There are other options for prospective buyers we don’t think about.

They could move into adjustable rate mortgages. They could finance at prime only, what have you. Get a LBR bank offered rate -- that’s a popular rate vehicle. There’s the three- and five-year ARM, the seven-year balloon, all of that.

But what is most popular with investors who are opting for something adjustable right now? Where are they going most?

HSIEH: They’re going to the three- and five-year, Neil.

CAVUTO: Really?

HSIEH: Yes. Especially with younger couples that are planning to move their family as their family grows. It seems to make a lot of sense.

For example, if you take a three- to five-year today, you’re saving 1 percent to 1-1/2 percent off the 30-year fixed rate.

So, if you’re not going to be in the home for 30 years, there’s no reason to pay for it for 30 years.

CAVUTO: Indeed. Good point.

Anthony Hsieh, thank you very much.

The CEO of

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