What are rates doing now??!!
Unfortunately a good thing can only last so long. Eventually all will return to "normal" regarding interest rates. But then again what really is normal now days ?
This week interest rates market started at the highest yield since this huge sell off began 3 weeks ago. the FOMC meeting yesterday hinted that everything is A OK meaning that inflation wasn't a huge worry, small businesses are hiring a bit more, and the $600 billion designed to buy treasuries is doing its job to "keep rates low" Why is it that mortgages interest rates have gone up almost a full point in the last 3 weeks? My simple answer is because "what goes down must go up" or however that saying goes. Rates have been ridiculously low over the past year. If we look at the average over 30 years we would look at rates around 9.5%. So 5% here we come, and by the way you look good 5%.
Rhett S. Laufenburger
Mortgage Advisor
480-225-6699 Direct
NMLS# 221295
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