All you mortgage guru's out there please chime in and tell me what the cause of a greater that 1/4 point jump in interest rates in the past 24-48 hours. Wow, if that trend continues we are heading towards a larger housing crisis than we have now!
I just took a look at a national averages chart that showed the jump. I was assuming that the rates would continue moving toward 6.0%, but this tells me we are now heading back to 6.5% and beyond. Please explain!
Thanks!
Steve, thanks for the heads up. I'm calling my mortgage broker to find out what's cooking. We're trying to pick a builder and if the rates are rising we may have to lock in now rather than later. :-)
Man. I thought they were heading down...I think they will trend back down again soon.
Steve,
I would not be surprised to see rates go up with the GDP numbers today, but they actually drifted down. I have not seen the .25 rate increase. But i actually think they will drift back up - inflation seems to be increasing rate pressures, FNMA had increased the adverse market charge, and increase loan fees for several LTV and credit scores.
FHA has increased UFMIP.
I think we will see some increased payments for a lot of reasons.
Congratulations on 80k. Love 3Dog.
Richard
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