Interest Rates Up For the Second Week

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team BRE# 00919781

Yes the Interest Rates Up For the Second Week

Rates are up for the second week.  Freddie Mac's weekly survey shows that average 30 year fixed rate morgtgage fixed rate rose for he second week in a row.  The new rate is 3.59 percent with .6 points. 

The 15 year fixed rate moved up also rising to 2.84 percent and .6 points. 

We do not see rates flying up quickly just creeping up slowing.  Now is still a good time to purchase a home.

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California Orange County Mission Viejo
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mortgage interest rates

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Rainmaker
690,702
Elite Home Sales Team
Keller Williams Realty - San Clemente, CA
A Tenacious and Skilled Real Estate Team

That is not good for the economy or the real estate market.

Aug 20, 2012 08:48 AM #1
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

No having an increase in interest rates is a problem if they go up a lot.

Aug 20, 2012 09:25 AM #2
Rainmaker
1,995,685
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Home buyers need to move quickly to take advantage of the very low mortgage interest rates.  They will be going up.

Enjoy the days of summer and be sure to have your camera in hand to capture the special moments.

Aug 21, 2012 03:36 PM #3
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes waiting on the fence is not the way to go when interest rates climb.

Aug 21, 2012 06:16 PM #4
Rainmaker
1,864,788
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Every little rise in rates makes homes a little more expensive for those financing.  They are still really low, so those that are on a tight budget but want a home should consider making their move sooner than later.

Aug 23, 2012 04:41 AM #5
Rainmaker
625,155
Sussie Sutton
UTR Texas Realtors - Pearland, TX
UTR TEXAS Realtors - Rep for buyers and sellers.

I hope they stay at this rate for a longer period of time since I really want more people to hop on board and get refinanced or buy newer homes. This is not too good for us.

Aug 23, 2012 05:57 AM #6
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes Gabe every time the interest rates come up some people find they cannot purchase a home or the one they want.

Aug 23, 2012 08:07 AM #7
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Sussie

We both need to have the interest stay low for some time to come.

Aug 23, 2012 08:07 AM #8
Rainmaker
608,831
Patricia Feager, MBA, GRI, Cert Negotiations Expert, Military Relo Prof
Keller Williams Realty - Flower Mound, TX
The Little REALTOR® That Could

Hi Tim,

Rates are up; yet oh so low.

Thanks for the information.

Good selling to you my friend.

 

Aug 23, 2012 09:02 AM #9
Ambassador
1,279,879
Toni Weidman
Re/Max Sunset Realty - Trinity, FL
23 Years Selling Homes in New Port Richey, FL

Rates are up a bit but still a great rate out there, Tim.

Aug 23, 2012 12:08 PM #10
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Thank you Patricia I am continuing the task of selling.

Aug 24, 2012 08:22 AM #11
Rainmaker
845,709
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Toni

Yes we are enjoying a good season.

Aug 24, 2012 08:22 AM #12
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Rainmaker
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Tim Lorenz

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