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Mortgage Market Update

click for larger imageThe rate markets are under pressure again this morning. The recent spike in interest rates adds more confirmation to our forecasts that the lows in the interest rates markets are now in place and rates are unlikely to fall to new lows. The recent stampede to the safety of US treasuries became excessive; the run down in rates was mostly in treasuries but mortgage rates benefited as the outlook for the US economy hit new lows in July and August. A lot of concern the US economy would double dip and fall back into text book recession sent investors, both domestic and foreign, to the safety of bonds.  There just isn't much room left for improvement, but a lot of room for rate to go up.  I would Strongly advise capitalzing while you can.

Want to know more on how the Mortgage Market directly effects mortgage rates or need an explanation of the candlestick chart above? Send us an email and we'll gladly provide an in depth article.  Realtors, ask about a detailed presentation on the Mortgage Market at your next office meeting.

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Thursday
Jul012010

It's a YES on Homebuyer's Tax Credit Extension

DateThursday, July 1, 2010 at 11:10AM

The Senate voted to extend the closing deadline for the homebuyer tax credit which was originally scheduled to expire at midnight on June 30th.  Homebuyers will now have until September 30th to close on their home purchase and still qualify for the tax credit (original purchase contract date had to be signed by April 30, 2010).  There are a few thousand homebuyers breathing a sigh of relief!  8 Grand is no chump change here folks!

 



AuthorPamela Crim | Comments Off |

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