Two days in a row the long term interest rates have jumped up substantially, since Trump won the presidential election. I've said it numerous times... "Rates go up faster than they come down". This is a perfect example. If you look the chart of the 10 year note you can visually see how dramatic ... » Learn More about Up Up and Away for Mortgage Rates
Mortgage Rates
Mortgage Rates – Up Up and Away
Ever since the interest rates dropped in July because of the international paranoia about what the economy was going to do after Great Britain voted to leave the European Union (BREXIT), the interest rates have gone up substantially. 30 year mortgage rates most closely correlates with the ... » Learn More about Mortgage Rates – Up Up and Away
Fed Keeps Rates Alone – For Now – Good For HELOCs and Most ARMs
The Fed left rates unchanged at today's FOMC meeting. They said that the case for a rate increase has strengthened, but decided to wait for further evidence. There were 3 dissenters - Rosengren, Mester, and George, the most since December 2014. This could set up a hike in December. The Fed's Dots ... » Learn More about Fed Keeps Rates Alone – For Now – Good For HELOCs and Most ARMs
Fed Fear – Rates Jump
Two days ago the interest rates dropped, as the perception was the Federal Reserve was going to hold off on increasing the over night Fed rate. Then over the past two days, there has been enough fed speak from the powers that be at the Federal Reserve, that the bond market is now perceiving a move ... » Learn More about Fed Fear – Rates Jump
Beware of the LIBOR -If Your Mortgage is Attached to it
If you have an adjustable rate mortgage (ARM), and if the index it's using to determine it's interest rate is the LIBOR (London Interbank Offered Rate), you may be in for a shock the next time it adjusts. The LIBOR is among the most common of benchmark interest rate indexes used to make ... » Learn More about Beware of the LIBOR -If Your Mortgage is Attached to it