Today, I wanted to call in an expert. Everyone is talking about the issue of the debt ceiling but there is a lot of confusion. I called my good friend and one of our team mortgage lenders Johnatan Romero with New American Mortgage to tell us exactly what that was going to mean to mortgage rates.
"Everything we feared about the debt ceiling debate became a reality. We didn’t want it to be extended to the last minute, of course it was. We didn’t want the government to raise the debt ceiling, of course they did. We didn’t want rates to sky-rocket, of course they… wait, what?? The mortgage markets rallied. Out of nowhere, mortgage interest rates plummeted to all new lows.
I’m telling you about historic low interest rates today. The press will tell you tomorrow.
Rates typically take the stairs down and the elevator up. In this case there was an exception – they took the escalator down.
If you’ve been looking for a reason to take advantage of purchasing a home, you just found one. It has never been this cheap to borrow money. For a complete list of homes in your area visit Team Ludlow Realty.
To see if you qualify to capitalize on today’s buyer’s market contact me for a free rate quote at www.newamerican.com/jromero"
