The Market Has Moved-Rates Went Up

By
Mortgage and Lending with The Jonathan Arnold Team of Inlanta Mortgage
https://activerain.com/droplet/xgW

The Market Has Moved-Rates Went Up

 

The US markets were at the lowest point of 2012 at the opening today in regards to mortgage backed securities.  To give you a clear perspective below is a graph that reflects the FNMA 30Yr 3.5 coupon:

Mortgage Rates

 

What does this mean? 

Many rates are back up to where they were in December of 2011.  The initial thought is that the rates will slowly come back down a bit but it will be gradual each day.

If you have been working toward that 30YR fixed rate below 4% you may be in a holding pattern to see if the rates recover.

 

 

 

 

 

 

Here is a look at what Zillow is showing on the their rate graph (the spike is BIG):

Mortgage Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted by

 

 
 
  Katrina Cole  

Katrina Cole

Business Development

The Jonathan Arnold Team
   


Inlanta Mortgage, Inc
2029 Celadon Dr NE
Grand Rapids, MI 49525

 
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