Good Afternoon,
As you will see below, rates are holding steady for now but we have seen mortgage backed securities move for the worse, meaning we could see rates rise slightly later this afternoon. Part of the reason for this is that investor’s are continually speculating on the future of inflation and what they think the Federal bank will do about it. The Federal bank released their minutes yesterday and although some comments were taken as a good thing, others were taken negatively for investors and that sentiment is leading into today’s trading.
On a positive note, home prices are rising again, it’s interesting to see that Minneapolis is number 3 on the list for fastest rising cities in the nation. Not a bad spot to be in. So, is buying a home still a good move…it’s always debatable but here are 5 reasons why it might be.
Why do I link so many article’s from CNNmoney? Simply, they have one of the easiest sites to search for me. I spent 10 minutes trying to find the home price article on one of our local news sites and decided I’d just go where I could find it faster. Not that you care, just sayin’
Have a great week!
Rates: 30 year fixed at 4.25% and the 15 year at 3.625%, FHA: 4.25%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
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