Current mortgage rate trends are shocking industry experts as mortgage rates keep declining. When the economy looks good investors tend to buy stocks which often cause bonds to sell. When there isn't demand for bonds and investors sell their bonds, mortgage rates rise.
The opposite happens when investors think the economy is reporting bad news. They buy mortgage bonds hoping to protect their money from falling stock prices. Mortgage backed securities have had a very long run and profit taking should come soon. When it does you will see mortgage rates rise.
If you are th8inking about buying a home or refinancing your home I wouldn't wait too long or it will get more expensive due to higher mortgage rates. Rising mortgage rates won't stop people from buying a home but it will make it more expensive. If you own a home and can save $300 a month or more you will break even on closing costs quickly because we only charge 1,770 origination fee. To start saving, contact us today!
How to Shop Mortgage Rates
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