We believe mortgage rates have hit a “floor of resistance” as they have been +/- 1/8% for several weeks. Comments from Fed nominee Susan Raskins suggest the FED should hold off selling MBS (mortgage back securities) until the start raising the FED Funds rate and the housing market stabilizes. If you recall, the FED purchased $1.25 Trillion on MBS and that sent rates down to today’s levels. If they start selling off these “bonds” the market will flood and rates will rise.
What does all this “mumbo jumbo” mean to you the Realtor or homeowner……rates are truly at the bottom with nowhere to go but up. Whether you are buying a home or trying to save a few “bucks” with a lower rate, now is the time. Call today to check out what rate we can get for you. Every situation is different, based on credit scores, loan type and size, escrows and many other factors.
We can do financing in North Carolina, South Carolina, Georgia, Virginia, W VA, DC, Maryland, Delaware and Pennsylvania.
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