Mortgage Interest Rates Rise Significantly for Second Straight Day
Mortgage Interest Rates Rise Significantly for Second Straight Day
It seems as if for the last 60 days all the financial experts have been predicting an increase in interest rates as the Fed continues to exit the
market as a buyer of the Nation's mortgage backed securities. After
sustaining record low interest rates for the majority of the month of March
in 2010, for the last two days interest rates have seen extreme volatility
and as the market goes down, the rates are on the rise... and their moving
fast. It is never guaranteed that they will ever go back down and historically the
interest rates are still really low. This may be the last chance buyers and
those is a position to refinance have to take advantage of the historically
low mortgage rates before we leave the "low 5's," possibly forever. (Remember the reason they got so low was because the Fed was absorbing the
bulk of the market ,with them out.... Whose going to do the same for such
low interest rates?)
Want to see what today looks like compared to the last three months?
-Rafael Perez, Rafael@thehomemap.com
