Nevada Real Estate >> Las Vegas Real Estate Specialist: California: La Jolla

Current mortgage rate trends April 19, 2011 jumbo mortgages la jolla

Current mortgage rate trends:

Mortgage rates short term are holding steady this morning and may drop in coming weeks after the S&P downgraded the US debt from stable to negative. After rating junk mortgages from 2002-2007 as AAA it looks like they aren't making the same mistake.  This is a signal to politicians that they now need to make decisions best for the US instead of their own political careers. 

Remember that mortgage rates usually drop when there is bad economic news and rise when there is good economic news.

mortgage rate trends

Commodity prices (food, fuel etc.) are increasing and show no signs of backing down. This is usually the first sign of inflation.  Inflation erodes the buying power of the dollar including overseas so when inflation rears its ugly head the Fed raises rates (not mortgage rates) to keep inflation under control.  It is a tough balancing act because raising rates could hurt our economy from growing.

 

The current mortgage rate trend is enjoying a nice little dip for the moment but do not be fooled, mortgage rates will rise before years end. If you are considering buying or refinancing a home stop considering and get started because mortgage rates and jumbo mortgage rates aren’t going to tumble.

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Comment balloon 2 commentsNevin Williams • April 19 2011 11:17AM
Current mortgage rate trends April 19, 2011 jumbo mortgages la jolla
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Current mortgage rate trends: Mortgage rates short term are holding steady this morning and may drop in coming weeks after the S&P downgraded the US debt from stable to negative. After rating junk mortgages from 2002-2007 as AAA it looks… more
~ Pay It Forward ~ Today I volunteered to help the Seals in La Jolla!
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Today I went to visit the seals in La Jolla and I learned about the city council approving a coastal development permit to install a year round rope guideline at the Children's pool/Casa Beach. Apparently people harass the seals on a daily basis,… more