Recent had a great chat with friend, mortgage broker, and East Bay Realtor David Tang Pitch Black movie download Streets of Blood the movie Persuasion on dvd Touch of Evil move
about the recent spike in mortgage interest rates. David has always provided some sound advice and updates on how the current real estate and finance markets are doing. This is what he had to say:
Mortgage rates took a big jump yesterday as investors looking at the United States Government’s efforts to sell nearly $2 TRILLION
in U.S. Treasury bonds this year to fund its various Stimulus programs decided that the risk of inflation and rising interest rates were too high at the current record low yields.
In addition, signs of a recovery in the United States and globally are prompting some investors to lighten their holdings in U.S. Treasuries in search of other opportunities with greater potential returns.
Mortgage rates jumped from 0.25% to 0.75% as banks and lenders tried to figure out what was
a reasonable rate to charge for mortgages in this new climate of potentially rising interest rates.
For potential home buyers and those considering a refinance, it would be strongly advised to double check with your lender to see if your rate was locked prior to Wednesday – and if not – what the new rate is going to be.
After a period of relative calm in the interest rate markets, it looks like there could be some turbulence ahead so make sure you get good counsel on what your options are to protecting your financial position.
If you or anyone you care about is interested in obtaining more information about real estate and mortgages, feel free to contact us
.
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May 29th, 2009 at 8:49 am
Wow, can’t believe it jumped so much! Thanks for the update.