trusted advisor: Interest Rates Going Up
- 05/28/08 05:28 PM
Today the Feds increased the 10 year TBill to 4% up .75 basis points from just a few months ago. This is just the beginning of inreases to interest rates as a conforming loan at a 30 year amortization is just about 6% today. The TBill is what most mortgage interest rates is based on, the higher the TBill the higher the interest rates. I am advising my clients who are shopping for a home to LOCK their rates now and even pay for the extension if need be because I believe the market is just beginning to turn up the heat … (3 comments)
Today the Feds increased the 10 year TBill to 4% up .75 basis points from just a few months ago. This is just the beginning of inreases to interest rates as a conforming loan at a 30 year amortization is just about 6% today. The TBill is what most mortgage interest rates is based on, the higher the TBill the higher the interest rates. I am advising my clients who are shopping for a home to LOCK their rates now and even pay for the extension if need be because I believe the market is just beginning to turn up the heat … (3 comments)
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