Mortgage Interest Rate Update

Mortgage and Lending with American Financial Network MLO 189572

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We've been extremely lucky with low rates all year.  Last week, we saw a substantial spike in rates followed by somewhat of a decrease.  We are hoping to see rates in the low 5's or high 4's through March.  After April, the feds are pulling out of buying Mortgage Backed Securities which will make rates level out to market.  Currently, we are seeing artificial rates that have been kept down by the feds.  Surprisingly, I am still seeing many homeowners waiting for lower rates.  Maybe they know something I don't...

Comments (3)

Jeana Cowie
RE/MAX Real Estate Limited - Paramus, NJ
Broker Associate, ABR, CRS, GRI, SRES


Rates are still good and most people realize to take advantage of them now.

Feb 22, 2010 10:18 AM
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

I dont see many buyers waiting for lower rates.  I just see them waiting last minute for the tax credit.

Feb 22, 2010 10:18 AM
Charles Jennings
Century 21 Gold Key Realty - Marshfield, WI

In my market, the buyers are not so much waiting for lower rates, but they are waiting for more inventory.  Our inventory is distressed and buyers feel like they would be settling if they bought what was on the market.

Feb 22, 2010 11:24 AM