With talk of inflation in the air thoughts are turning to the Fed raising rates in the near future. This certainly affects the monthly payments for current buyers who have not locked in their rate. But Brian Brady doesn’t see the Fed raising rates until 2009.
BankRate® 30 Year Fixed Mortgage Rate Trend
1 response so far ↓
Richard Stabile Bergen County Real Estate // September 23, 2009 at 2:51 am |
Holding rates down is essential to this recovery.
In our market however the jumbo loan requirements are ridgid and the high end is weighting down in price yet. We need some way to securitize the jumbo’s. Conforming is easy, it is all government secured or supplied money. That why the low end markets are humming. They have lots of cheap money. With FHA 620 credit score your golden with 3.5% down.