Current mortgage rate trends are improving. Weekly jobless claims were higher than anticipated meaning that investors moved their money from stocks to bonds which caused mortgage rates to drop.
Bad news for the economy usually means lower mortgage rates and good economic news usually means mortgage rates will rise. This is because investors feel like they will make more money investing in mortgages rather than stocks when there are signs that the economy is in trouble.
If you want to buy a home or refinance into a lower rate or shorter loan term now is a good time because rates will start to climb higher in the near future. We specialize in purchase loans, jumbo and FHA loans.
Oceanside mortgage broker at your service!
