I wanted just to give everyone a quick bulletin that mortgage rates are going up quickly. They have been slowly drifting up over the last month, but the rate of increase has really sped up this week.
As we look at these mortgage rates in the mid to high 6's, it may be useful to keep in mind that these are still good rates. We have just been through a period of low interest rates (so low that the last time we saw mortgage rates that low was the 1960's), and any increases are bound to feel like a burden. But, these are good rates and a good mortgage professional should be able to explain this to their clients.
This may be the wake up call that reluctant buyers/borrowers need to get them looking...before rates go up even more.
As always, your comments are welcome!
Brought to you by Professional Mortgage Group, Inc. in Columbia, Missouri.
As we look at these mortgage rates in the mid to high 6's, it may be useful to keep in mind that these are still good rates. We have just been through a period of low interest rates (so low that the last time we saw mortgage rates that low was the 1960's), and any increases are bound to feel like a burden. But, these are good rates and a good mortgage professional should be able to explain this to their clients.
This may be the wake up call that reluctant buyers/borrowers need to get them looking...before rates go up even more.
As always, your comments are welcome!
Brought to you by Professional Mortgage Group, Inc. in Columbia, Missouri.
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