Current mortgage rate trends started with mortgage rates dropping. By the end of the trading day the mortgage market saw an improvement of 25bps. This means you either got a lower mortgage rate of .125% or will end up paying .25% less for the same rate as yesterday.
When there is good news mortgage rates usually rise and vice versa. Well, not today. Today both the stock market and the bond market rallied. This is a rare event as they usually work opposite of each other.
Eveyone is waiting for the FOMC meeting tomorrow but more importantly Fed Chair Ben Bernanke will host a 45 minute meeting after the FOMC meeting. Not sure if it is propaganda to try and convice the American public that everything is great or a serious conversation about what to do moving forward.Ben's remarks will likely affect mortgage rates and the stock market so stay tuned.
If you are looking to buy a home or refinance an exsisting home what are you waiting for? Mortgage rates are low and homes are cheap. If you are waiting for people to give them away, they won't so get it while the gettin's good!
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This is not a guarantee to lend. Rates subject to change without notice.
Nevin Williams II
Sierra Pacific Mortgage Company Phone: 888-206-5781 (919) 863-4370
nevin.williams@sierrapacificmortgage.com
NMLS #: 69651
5500 McNeely Dr #103 Raleigh NC 27612
Company NMLS # 1788 | www.nmlsconsumeraccess.org
Rates, terms and programs subject to change based on market conditions and borrower eligibility
Licenses – Sierra Pacific Mortgage Company, Inc. is licensed in the following States:
North Carolina, Mortgage Branch License NMLS License # L-127865-113, Virginia MC – 5275
Licensed in California by the Department of Business Oversight under the Residential Mortgage Lending Act # 417-005
Rates subject to change without notice. This is not a commitment to lend. Equal Housing Lender.
Sierra Pacific Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom Sierra Pacific has a business relationship.
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