I have been watching rates move in an upward direction all week.  Mortgage insiders such Barry Habib with "The Mortgage Market Guide" has been preaching this all week and the signs are there.

Now that rates are moving in that direction, what does this mean to a buyer who is shopping for a great discount on a home?  Well I think it means that you do NOT want to get too greedy.

If you are in the market for a home and prices are coming down, and you are waiting for further movement, then it might be counterproductive if you end up paying a higher interest rate.  On average the typical homeowner who borrows $100,000.00 could see themselves paying at least $100.00 more each month in a payment for the interest rate going up by 1%.  The rates have swung in just a week by about 3/8 percent upward and things are on the move. 

If you are shopping for a home and are looking for a reason to pull the trigger on a purchase this is a good reason.  I personally would not take the chance.

We are unique people out there.  We expect better then "would you like fries with that drink".  I just have learned to use my Midwest values and transfer them into my mortgage business.  If you are looking for something a little more unique in your next mortgage loan, please do not hesitate to get a hold of me. 

My name is Gary Miljour and this is what I do best.