New Orleans Real Estate - Where are Mortgage Rates Going?
We are only 10 days into March and we have experienced a very bumpy ride in the mortgage department of real estate. As a Realtor in New Orleans, it have to stay on top of the current mortgage picture to be able to answer my clients’ questions. Based on what we are seeing, my opinion is that mortgage interest rates will remain volatile for the rest of the month.
Last week was one of the craziest weeks I have ever experienced in this business! In the end home loan rates increased about .375%. What caused this rate increase? As we all know by now (since you are regular readers of my blog!), real estate mortgage rates are tied to the bond market. There was a big bond sell off last week causing the downward spiral. The week would have ended worse but some bad economic data came out and the bond market rallied a bit to stop the bleeding.
You may also be interested in: New Orleans Real Estate - The Definitive Blog
_____________________________________________________________
This New Orleans real estate mortgage rates blog post was provided by Darryl Glade, Realtor with RE/MAX N.O. Properties. Darryl can be reached at darrylglade@remax.net or by phone at 504.451.8960. Darryl’s office is conveniently located in Uptown New Orleans at 8001 Maple Street. Darryl works throughout the Greater New Orleans area including Uptown, Lakeview, Broadmoor, Mid-City, Metairie, Kenner, Westbank, French Quarter, and the Warehouse District.
Click here to view Darryl Glade’s Real Estate Profile.
Comments(0)