Mortgage Rates Surge Higher

By
Mortgage and Lending with Southwest Funding

This week's report on consumer credit for April revealed something that hasn't happened in quite a while: consumers not only borrowed at a much slower pace (1.3%) than they did in March (7%), they actually paid off more plastic debt than they took out, according to the Federal Reserve.

The nation's trade deficit, the difference between what America imports and what it exports, turned in unexpected good news on Friday, falling by 6% to $58.5 billion. Our appetite for imported goods, particularly autos and clothing, fell 1.9% in April while exports rose very little.

Dallas Loan Officer

Jeff Schraeder

Imperial Mortgage

 

 

Comments (1)

Leo Namiot - SimplerHomeLoan
Canopy Mortgage - Leo Namiot - Saint Augustine, FL
Before you chose a lender check my rates and fees
I think we will see 7%+ rates by the end of the summer and stay up there, home buyers should take advantage now.
Jun 13, 2007 04:25 PM