NOTES ON MORTGAGES
Interest Rate Trends
The gently declining interest rate trend is
now in question. The Chairman of the Federal Reserve Board,
has said that the economy is growing at a suitable rate, therefore;
the "market" feels the Fed will not lower rates in the near future.
Combine those expectations with a Presidential race that looks bad
for a balanced budget and you have the recipe for unstable interest
rates. For the time being, I would lock my rate in and float it down.
( A float-down allows you to lock in certain mortgage rates. Should the rate drop before
your settlement date, you may re-lock at a lower rate with no additional
charge. For more information on float-downs, please
For information on subscribing to our Weekly Wrap-up, which gives a
review of the weeks mortgage and economic news,
please click here.
Eastern United States Real Estate
Though conditions are improving, the Northeastern United
States continues to see a sluggish real estate market. Housing
prices have remained stable for quite some time. The hope that lower
interest rates would stimulate home buying has not materialized,
however; the astute buyer realizes the opportunities of a
"Buy Low" strategy.
(800) 783-9333 x192
(610) 397-0330 x192