Government Shutdown Causing Interest Rates to Go Up or Down?

Interestingly enough, mortgage interest rates have continued their downward trend this past week, especially the past few days.  This is basically a flight to quality event due to the Stock Market selling off.  It could reverse itself in two weeks as we get closer to the biggest issue, possible default of our National debt.

Though I doubt we will go over that cliff, in the mean time Interest Rates have dropped to the low 4% range, creating a great opportunity for any buyers that you may be working with to qualify for a higher loan amount than just a month ago.

Freddie Mac announced this morning that interest rates slightly decreased again this week.

The National average the past week for a 30 year fixed was 4.22%, with an average cost of .70 points. A 15 year fixed dropped to 3.29% with .70 points.

#Rates #Mortgage #Loans #HomeLoans

October 4, 2013 by · Leave a Comment

About Bill

Bill is the Preferred Mortgage Advisor for Opes Advisors, and will be one of the first team members to contact you. Bill is a Certified Mortgage Planner and as a Mortgage Banker and Mortgage Broker, he has been custom tailoring loan plans for clients for over 20 years. Bill offers financial advice on how to properly structure financing to help his clients save money while building wealth, whether you are purchasing your first home or a seasoned investor. Feel free to contact him at the telephone number provided or e-mail him at bill@trustedloanadvisor.com

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