Uh oh...there go the low mortgage rates : (

By
Real Estate Mortgage Broker with Sierra Pacific Mortgage Raleigh

Mortgage rate trends are deteriorating today.  General concensus is that the economy is stable in Europe causing investors to buy stocks instead of bonds which in turn causes mortgage rates to get more expensive.  The rates haven't changed but the cost to get those rates has become more expensive.  example:  If you were quoted 3.625% with no points on Friday you might be paying 1/2 a point to get that rate today.

Odds are that rates will "bounce" back offering those who wait patiently on the side line to save some money by locking in at the right time.  Timing is everything which is why I use this cool tool allowing me to monitor mortgage rates.

mortgage rates

 

If you have more than 30 days before needing to close your loan I advise you "float".  If you have to close in 30 days or less I suggest you lock immediately.

Contact us for a personal rate quote.

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How to Shop Mortgage Rates

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This is not a guarantee to lend.  Rates subject to change without notice. 

Nevin Williams NMLS#69651  CA DRE #01366552

 

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Topic:
ActiveRain Community
Location:
California San Diego County Carlsbad
Groups:
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Everything California
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mortgage rates

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Rainmaker
998,181
Joan Whitebook
Consumer Focused Real Estate Services
BHG The Masiello Group

Very interesting.. This looks like a great tool.  The advice is priceless.... thanks for the heads up.  I hope "they" are right about Europe.. I'm not so certain.

August 07, 2012 06:38 PM
Ambassador
500,546
Jason Sardi
Your Agent for Life
Auto & Home & Life Insurance throughout North Carolina

The advice is priceless, indeed.  However, I still believe higher interest rates will be a good thing for long-term economic stabilty.  Then again, I'm no economist ... just ask my bank account;)

With Mortgage Interest Rates, we've been very spoiled for very long.

August 07, 2012 07:38 PM
Rainmaker
234,985
Carla Freund
Your Raleigh - Cary Relocation Specialist
Keller Williams Preferred Realty

Nevin - Great explanation of mortgage rates. Now is definitely the time for folks to move on those low rates and great housing prices.

August 20, 2012 04:45 AM
Rainmaker
392,499
Nevin Williams
Raleigh Mortgage Pro
Sierra Pacific Mortgage Raleigh

Joan - Hard to say Joan.  Unfortunately I think Europe still has more to come before they can solve their economic woes.

Jason - Agreed.  Rates are ridiculous!

Carla - Thanks!  Now isn't a bad time : )

August 20, 2012 07:16 AM
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Rainmaker
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Nevin Williams

Raleigh Mortgage Pro
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