Good Morning,
Rates have remained fairly stable. This is both a good and bad thing. On the plus side, the buyers I’m working with right now love low rates and let’s be honest, who doesn’t?
Here’s the bad thing: With interest rates being predicated on supply and demand, rates holding on this lower end, means there is lower demand for mortgages and talking with several Realtors, it seems to correlate that the demand for home buying this spring and summer is much more stagnant than originally anticipated.
How is your business this summer? Are you seeing the same trend?
Have a great week!
Matt
Rates: 30 year fixed at 4.125% (APR 4.205) and the 15 year at 3.375% (APR 3.474), FHA: 3.75% (APR 5.835): 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 NMLS 366970
Homes Mortgage NMLS 298853
612-232-7646 cell I 651-770-0637 office
www.MattRoyer.com I Apply Now!
Comments(1)