Mortgage rates started off lower in morning trading but then got slightly worse by afternoon. Inflation is trickling into prices but not enough to deter a sell off of bonds. Signs of an improving economy will usually push mortgage rates higher while bad economic news will usually push mortgage rates lower. Bad news is good news for mortgage rates and the selling of bonds happens when there is good economic news.
Current mortgage rate trends for those seeking mortgages in Del Mar are looking good if buying a home or refinancing an existing home. Mortgage rates may remain at their current level for a few months but do not be fooled, mortgage rates will definitely go higher.
India, China, Europe are all raising their interest rates and we are soon to follow. If you are still thinking about buying or refinancing you may think yourself out of affordability if you don't act in the next few months. Contact us for your mortgage needs.