RECORD-BREAKING LOW MORTGAGE RATE RECORD STREAK MAY BE OVER

By
Real Estate Broker/Owner with Garrigus Real Estate CalBRE# 01844442/01844441

SHORT SALE BEAUMONT CA

According to a report on CNN.com, mortgages have been insanely low for the past 13 weeks, and that treand may be coming to an end, according to the uptick in mortgage rates from last week (3.49% average) to this week (3.55% average).

The increase in rates followed several positive economic announcements, including debt relief efforts in the Europe, an increase in U.S. consumer confidence in July and a report indicating that home prices are on the rise, according to Frank Nothaft, Freddie's chief economist.

"Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week," he said.

...Read the full story on CNN.com here

Posted by

Todd & Devona Garrigus

Broker / REALTORS®

951.490.3698 | Direct for Todd
951.490.3683 | Direct for Devona

www.GarrigusRealEstate.com
CalBRE# 01844442/01844441

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