This week, I received a bit of news from the economic front, but before I get to it, some background. Looking over the past year, you might have heard "The Fed" keeping interest rates stable and raising them on at least one occasion. These rates that the Fed determines don't directly affect the mortgage rates. They affect credit card and savings interest rates, which affect how people buy, save, and spend money. Mortgage rates are more closely tied to treasury bonds' interest rates.
Bond prices have been disappointing over the past week, and the effect is that home loan rates have increased - about .125% higher across the board.
As a REALTOR(R), I focus on providing the utmost service to my buyers to find the right home with the least amount of their effort and to my sellers to sell their home at the best price and at the shortest time possible. I rely on my support circle of lenders to provide the day-to-day analysis of mortgage rates and assist my buyers with the best mortgage programs available.
You can check out http://www.bankrate.com to find the latest mortgage rates nationwide. Of course there are tools available not only there but on my website, http://www.changhomes.net.
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