When the Federal Reserve stopped buying mortgage backed securities, the assumption was that rates would start to rise.
But without a crystal ball, no-one could predict the erruption of a volcano in Iceland or the drastic measures taken by the European Union to bail out the Greek economy.
These events caused uncertainty in investors, who moved away from the stock market to more stable mortgage backed securities.
As a result, rates have stayed steady, but this is probably a temporary state.
If you are still considering refinancing, or are actively searching for a home, don't wait too long.
Call me today! We have rates with APRs beginning in the 3's, 4's and 5's - even JUMBOs!
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment