The Numbers Just Don't Lie
Here
is a press release from Case Shiller showing just how dramatic the pricing
increase is happening in the housing market. When factored in with rising
interest rates, there is no reason for anyone to think that better value is
coming - it's time to get in the game!
Check out the press release here: http://goo.gl/ZCCFk
Last Week's Mortgage Rates Recap
Last week mortgage
rates increased on Tuesday after a brutal day for MBS (Mortgage Backed
Securities), the market that drives mortgage rate pricing. After a couple of
days of recovery we watched it all fall back by Friday. Last week's
performance showed the importance of being aware of market factors and using
them in decisions rather than chasing after lost rates. Last week also showed
the importance of working with an MLO (Mortgage Loan Officer) who is tied
into real time trading data to take advantage of the best pricing and to act
before lenders do when it was time to lock. If you have questions about this
contact your MLO who would be happy to explain it.
This Week's Mortgage
Rates Forecast
Mortgage Rates Currently
Trending: HIGHER
This week does not
appear to be the week that the market will rest. Exepct volatility all week,
leading up to Friday's May employment report which may bring the most
volatility of all. It's another week of staying on top of the MBS market and
watching the live feed.
BOTTOM LINE: Do not fight the tape. Interest rates show
little evidence of any improvement as the week begins. No stopping the equity
markets these days; as long as the stock market continues its march higher
there isn’t much to hope for in the bond and mortgage markets. We suggest
keeping in contact with your MLO (Mortgage Loan Originator) who is connected
to the market with a live feed to protect your mortgage interest rates this
week.
RateAlert’s
Most Trusted Mortgage Loan Officers
MLOs that subscribe to RateAlert’s Executive service have
the training and market knowledge, along with the data at their fingertips,
to expertly help consumers navigate the difficult and sometimes treacherous
process of obtaining home financing and securing some of the best rates the
market has to offer. If you would like to learn more about
how to time the market to obtain the best interest rates, don’t hesitate to
contact the MLO who sent you this commentary.
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