Mortgage Rates & Trends 9/23/2013
Last Week's Mortgage Rate Recap
After the Fed announcement and the immediate rate improvements, the market leveled off and has stabilized. We did end the week an average of .125% to .250% better in interest rate than we started it (depending on the lender), but this is not the catalyst to see us get back down into the 3% range.
This Week's Mortgage Rate Forecast
Mortgage Rates Currently Trending: NEUTRAL
This week should see MBS (Mortgage Backed Securities) trading in a tight range, which means rates will probably end the week very close to what they started. However with a plethora of economic news this week, we should expect day to day changes to occur.
BOTTOM LINE: Rates may not change much this week from beginning to end, but between rate changes and rebate pricing changes, consumers may see swings of hundreds or even thousands of dollars in rebate pricing. Be sure to work with your Mortgage Loan Professional to follow market movements to act before lenders do.
If you need assistance, do not hesitate on giving me a call or any member of the team at 314-744-7806. Check us out on the website by clicking on the link below:
Comments
Post a Comment