Good Afternoon,
I had an unexpected hour wait in traffic yesterday and it gave me a little time to think, seeing my bumper had fairly minimal damage from the driver behind me who may or may not have been a little distracted. Rarely the case when I’m on the way home for the day, it made me think about this as a comparison to the current economy (what I’m making for dinner is usually at the forefront). Like being caught in construction traffic, things are slow going but you see some progress and comprehend the end goal in sight, so it’s time to be patient and then WHAM! The unexpected happens and your plans instantly change.
This afternoon, the Federal Reserve will release their monetary policy statement and no, I’m not expecting that Wham moment. More so, I’m expecting a reiteration of our economy being stuck on a one lane highway and moving at 5 MPH. Of course, I’m still wondering what and when the Wham moment for the economy will be. I’m hoping it’s a positive moment and not a I need to get my car repaired moment.
Have a great week!
Matt
Rates: 30 year fixed at 3.375% (APR 3.511) and the 15 year at 2.75% (APR 2.992), FHA: 2.99% (APR 3.792): As always rates change with individual credit scenarios and programs, APRs are estimated based off of a $250,000 purchase price with 20% down and a 740 credit score, if you want an exact quote, call. These are not quotes, merely a baseline measure to gauge how rates change from week to week.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
www.MattRoyer.com
mroyer@homesmortgage.net
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