As some of you have gotten to know over the years, I’m a baseball fan. At least I was 5 years ago when the Twins could keep their losses under 90 a season. So, each year, I pick a playoff team and follow them through the postseason. Any suggestions? Give me a reason to watch. I’m begging and pleading for a reason to watch…
Okay, on to the Market. It hasn’t been extremely surprising in the sense that rates are once again holding steady. Yes, the Federal Reserve is ending Quantitative Easing (or their bond/security purchasing program) that has helped keep interest rates artificially low and conversely, we are entering the point in the season where home buying slows down. It’ll be interesting to see how much these two forces balance each other out. It could help keep rates in this lower range for the time being.
In the meantime, I’m going to keep putting on my sandals each morning as my little protest against this cooler weather.
Have a great week!
Rates: 30 year fixed at 4.125% (APR 4.205) and the 15 year at 3.375% (APR 3.474), FHA: 3.75% (APR 5.835): As always, rates change with individual credit scenarios and programs, APRs are estimated based off of a $250,000 purchase price with 20% down and a 740 credit score, if you want an exact quote, call. These are not quotes, merely a baseline measure to gauge how rates change from week to week.
Mortgage Consultant, CMC NMLS 366970
Homes Mortgage NMLS 298853
612-232-7646 cell I 651-770-0637 office