Current mortgage rate trends for those seeking mortgages in San Diego 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. Contact us for mortgage info
Current mortgage rate trend lock advice:
If closing in 7 days or less - Lock
If closing in 14 days or less - Float
If closing in 30 days or more - Float
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Mortgage rates surprisingly improved today as did the stock market. They usually oppose each other so this signals that we as a country have mixed feelings about the future.
It looks like the US economy isn't as strong as experts predicted it was a couple of weeks ago. The International monetary fund came out Monday and said the US will grow at a rate of 1.5% instead of the anticipated 2%. The Fed Beige Book says the economy is growing at a moderate pace and NFIB says that small business optimism is down. Not good since small business hires the most people.
Basically we have a long way to go and for now mortgage rates are improving. Again, I still believe mortgage rates are set to go higher but for now I suggest you float cautiously and be prepared to lock in your rate at a moments notice.
San Diego mortgages - Mortgages San Diego
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