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It has been a wild ride for interest rates this week. After 2 months of almost no change in rates, we saw a dramatic increase in rates early this week. Interest rates are tied to the buy/sell price of Mortgage Bonds on Wall Street.
For whatever reason, early in the week, the demand severely dropped off for Bonds of all types as traders became concerned about the amount of bonds the government has issued to cover all of their stimulus programs.
Thursday and Friday have seen the market gain back about half of their losses. We will cross our fingers that this was just a blip on the radar and that we get back to incredible rates we have enjoyed for the past several months.
If you are considering taking advantage of the great rates today and then you really will want to make a call to Justin McHood with www.ArizonaMortgageTeam.com !
Justin provides up to date Arizona mortgage rates and loan options on his blog! Stop by and say hello and get to know Justin, you won’t be sorry!
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About Candace
I hope the rates stay this low. I’m curious to see what will happen when rates increase. Will prices go lower, because people cannot afford expensive homes? Will they have to reduce the rates to give the market a boost?