rate trends

Direct Your Own Loan – Rate Trends Week 28

rate trendsAt the time I am writing this mortgage interest rates are almost unchanged from last Friday.

During the early part of the week rates were slowly drifting lower, but yesterday they went back up. The reason for the spike yesterday was a better than expected unemployment claims report. As mentioned above even though we had a spike yesterday rates are back to where they were last week.

I don’t see rates going up much further in short term until our leaders in Washington have resolved the debt ceiling problem. On the flip side I don’t see rates going any lower with the recent good economic reports coming. Expect mortgage rates to stay in a narrow range for next few weeks.

News out of Europe has not had any large impact on our markets as investors have been focused on our domestic problems with the Fiscal Cliff and debt ceiling.

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Fred Bohman

Fred Bohman has 8 years of experience in real estate and finance. Fred started in the mortgage industry in 2004 under a seasoned professional with over 20 years of experience. In 2006 after learning everything he could from his mentor Fred past the real estate license test and branched out on his own. Since then Fred has handled everything from residential mortgages to business financing. In 2008 Fred pasted the Series 62 securities licensing test which gave him a deeper understanding on how the mortgage bond market works and how interest rates move. In 2010 when the National Mortgage Licensing System and Registry was enacted Fred passed both national and state tests. Fred was born in in Sweden and moved to California with his family at the age of 13. He currently lives in Orange County, CA and studied Business Finance at the University of Fullerton California.

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