We're such a now group.
For quite awhile we really didn't have to worry about interest rates.
they were just sooooo low
and for some reason we didn't take into consideration that they would not stay there forever, or
at least until I bought my new home
we're you snoozing?
because if you were last week (and this) probably woke you up, as it did many.
did you, or do you believe that the fed will continue to put $85 billion a month into the mortgage markets?
the answers obvious now
did you, or do you think the economy is still reeling?
a little hint here, it's not.
AND, stronger economic activity is not conducive to lower rates.
now, everybody wants to know
what's going to happen with interest rates?
well here it is; the answer.
they will go up, down, or remain the same.
another little hint; we don't need to be concerned if they actually do go down,
BUT, I don't think anyone really believes that they will.
So, here's an extremely important (and helpful) hint
If you are buying a home, and you need a mortgage pay very close attention to the rate lock procedure.
Is the interest rate locked at the time of application, and if not when?
For how long is the rate locked?
If it expires, what happens then?
if you already have applied for a mortgage, but have not yet closed, call your lender, and check on your rate lock status.
you stop snoozin
you might not be losin
the rate you thought you were getting