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Mortgage Rates, with Caution to lock short term deals

By Christopher Hills

Mortgage and Lending

November 05, 2008 04:51 AM

The turmoil in the stock market seems to have effected the interest rates. Since last Wednesday's Interest rates have dropped back down to the low 6's and on FHA into the upper 5's. People are scared of what is to come with their investments so they seem to be moving into safer items like bonds. I would tend to float right now if 30 days out. If I were closing in the next 2 weeks I would lock. So has not to lose the gains from the last 2 days

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The above information regarding Commercial/Home Loans was provided by Christopher Hills, the Vice President for In-Vision Financial Holdings, LLC. Chris can be reached via email at chris@invisionfinacialgroup.com or by phone at 508-377-5872 .

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Vickie Slade

Colorado Landmark, Realtors - Boulder, CO

Service You Can Trust ~ Someone You Can Depend On

Christopher, good advice. Why do you think people are scared of what is to come? Do you think it has to do with who has become president and a worry of further taxation? I would be very interested in you perspective.

Nov 05, 2008 05:03 AM

Christopher Hills

North Andover, MA

Managing Dir. Lending

Vickie,

I think it has alittle to do with both. I am a conservative. so let me get that out of the way. I have many friend who are democrats who are nervious about the new adminstrations economic policy. They are still very concerned about wall street, and 401ks. For example my wife's 401k just added 3 bond portfolios to it. They are worried about inflation, and what that is going to do the ecomony. they are hoping this doesn't become Carter ecomomics. We shall see what happens but in the mean time it is still a good time to buy a house, and those people make sure they choose a lender who has their client interest at heart.

Nov 05, 2008 05:13 AM

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Christopher Hills

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